Does whole wheat bread made from the same grain not have the same protein, or does removing all that fiber, flavour, and micronutrients somehow enhance the protein content and render it less expensive?

White flour has a slightly higher protein content (e.g. I bake bread from flour with 13% protein), but the important difference is that it is much cheaper, e.g. at least twice cheaper than whole wheat flour.

The reason for the price difference is unlikely to be due to a more expensive processing technology, but mostly from the economies of large scale processing, because the production of white flour is much greater.

Whole wheat flour has slightly higher amounts of the more valuable nutrients, but due to its high price it is an inefficient way to get those nutrients. A both cheaper and healthier diet can include white bread and larger amounts of other vegetables that are better sources of fiber, vitamins and minerals than whole wheat flour. (E.g. the food that I cook usually includes ingredients like lentils, carrots, parsnips, onions or garlic, broccoli or cauliflower, bell peppers, parsley or dill etc. Spending less on those in order to make more expensive whole wheat bread would provide much less desirable nutrients, so it would be a bad allocation of funds.)