Sometimes an 'essence' vs. 'extract' distinction is made, but double-checking that prior to commenting it seems that's not reliable, they're also sometimes considered synonyms.
Vanillin is no substitute for actual vanilla. At least in cream for custard or something - things where it's best used anyway - maybe if the thing already tastes 'flavoured' (I sort of know what I mean by that, but have no idea how to write it.. I realise it sounds silly) then there's no difference, like a sponge cake for example.
If these shavings are real truffles, they are most likely low grade ones with little aroma, the bulk of the flavor being artificial. It is essentially the same as the "plain" product with chunks added to make it look more authentic. Read the label. In most countries, labels are regulated, chunks of stuff are not (except for food safety).
I don't know if I've only had low quality truffles, but basically all the truffles I've had in my life have been very mild and wouldn't be able to flavor a small bottle of oil.
Just made some truffle-oil infused smoked mac-n-cheese.
Sometimes, capitalism is _delicious_.