I use pharmacy mineral oil for my cutting boards. Both boards are four inch thick oak, 20-30 years old, and absorb the thicker pharmacy oil just fine, both end-grain and side-grain surfaces. My brother has a century-old butcher block 24 x 24 x 20 inches thick, and he uses the pharmacy oil on that as well. In my experience, the thicker oil needs to be added less frequently than the thinner, more expensive oil.
I suspect the thinner oil is of more value when dealing with finer grained wood of different density and thickness than our comparatively crude cutting boards. Possibly in applications where you want quick absorption, and definitely don't want any thicker oil lurking on the surface. Does that sound reasonable?