While that does vaguely gesture at an increased nicotine consumption, it's pretty meaningless without the corresponding consumption rates. My gut suspects the average smoker goes through a pack of cigarettes a lot faster than the typical vaper goes through a rechargeable disposable vape.
5% is 50mg/1ml. A cigarette pack has about 25mg. A geek bar has 16ml of juice = 800mg of nicotine = 32 packs of cigarettes.