It is different, because the amount the wholesaler bought it for is not the only cost he has. He also has rent, labour and who knows what else, and not all of those withhold VAT on their end. In fact, in business-to-business transactions, VAT is often ignored, because the only that matters is the value at the end point where it's sold to the consumer or another non-VAT-paying entity.

At the end point, VAT is a revenue tax, not a profit tax. And revenue is certainly not the same thing as profit.