Can Someone Please Explain Why A "Wholesaler" Would NOT Get Licensed?

[Scott Trench]

Can someone explain this to me like I'm 5. 

Is there some reason why the continual crop of new "wholesalers" don't just get their licenses? 

Is there some advantage to not having a license for the wholesaler? 

While I am skeptical of the wholesaling profession's prospects for any but high net worth, large scale real estate operators, I could see the odd agent wholesaling a small handful of deals. But, the inverse - the wholesaler losing out on a bunch of deals that they could probably sell as the agent if they are truly great at finding people who need to sell - seems way more likely. 

What, if any, is the advantage to not getting licensed for a wholesaler?