Octopeds are very bright indeed. The color-changers have to fire a lot of nureons really fast to control all those 'pixels' all over their body. That takes processing power. As does coordinating 8 legs studed with 10s of thousands of sensors.
They are reported to be on a par with dogs, anyway, in their ability in the lab to sort and remember colors and shapes.
This news story highlights ways that octopeds confined in acquariums seem smart to people...
Crafty octopuses keep kids, caretakers entertained