Ignoring side-effects (let's assume that all casts and all effects are instant)
That's very brave assumption.
If you cast N spells in single turn, than, yes, it's as you drawn.
But spells are being casted in subsequent turns at the very best .
That's where short delay kicks in.
If wizard has 100 mana, and casts two spells with 50 mana cost and 2 turns delay,
he will regain full mana in 3 turns (1st spell on 3rd turn, 2nd on forth, after 3 turns).
If he casts spell with 10 mana cost and 10 turns delay, he will regain full mana in 10 turns.
While cost*rechargedelay is the same, impact on mana pool is very different.