When a RNN/LSTM contains output in each time step, I can understand that the output of current time steps is a function of its historical data.
But when one deals with a RNN that only has an output of the last time step, what's the difference between it and a MLP whose first layer contains all features of all the time steps? e.g.(slide 15 of this)
For example, when dealing with single output machine learning problem, given time steps = 4 and 2 input features in each time step, what's difference between it and a 8 inputs MLP?
Note that, for convenience, I put all the neurons of the hidden layer into a single hidden layer box.
Any help will be appreciated.