Aside from the aesthetics, wedges and MacGregor chippers are drastically different clubs.
Chippers in general often take the form of putter/wedge hybrids and are made with a thicker head to help the club interact with the ground more smoothly during a putting-like stroke. This design promotes smooth turf interaction, making it a valuable addition to a golfer's bag.
Wedges, on the other hand, take the form of irons and serve a very similar function to the rest of your iron collection, albeit shorter in appearance and shot distance.