Nutella is basically frosting in my book (delectable, but not a healthful food... possibly not even food), but the ingredients are different, and significantly so:
sugar, plam oil, hazelnuts, cocoa, skim milk, whey, lecithin, vanillin
Frosting (betty crocker chocolate):
sugar, partially hydrogenated soybean and cottonseed oil, water, high
maltose corn syrup, corn starch, alkalized cocoa powder (plus a
remaining <2% of other stuff)
Whether Nutella is healthful or
not, the source of the fats, sugars, etc. makes a difference; nutella
has fewer ingredients and those it is made of are less sketchy than the
frosting option. Of course, i chose a brand/variety of frosting whose
ingredients i could look up online, but i'm willing to bet the generic
frosting has roughly the same ingredients as the one i found.
Vanillin is an artificial flavor, though (it even says so in the ingredient list), but the article says that commercials for Nutella claim it has no artificial flavors. Hmmm.