Step 1: Remember what the Ellingham diagram shows.
It is a plot of the standard free energy change $\Delta G^{\circ}$ for forming metal oxides against temperature T. So option A is a true description.
Step 2: Check the stability point.
A more negative (lower) $\Delta G^{\circ}$ means the oxide forms more easily and is more stable. So option B is also true.
Step 3: Check the reducing agent point.
If one metal's line sits below another's at a given temperature, that lower metal can reduce the oxide above it. So the diagram does help pick a reducing agent. Option C is true.
Step 4: Spot the catch.
The diagram is built only on thermodynamics, which tells us whether a reaction can happen, not how fast. It says nothing about kinetics or rate. So option D is the wrong statement.
Step 5: Conclusion.
So the answer is that it tells us about the kinetics of the reduction process, which is not correct. \[ \boxed{\text{Option D}} \]