Google Sheets VLOOKUP using arrayformula not working

I am trying to populate rows of data from another sheet using VLOOKUP and ARRAYFORMULA.

Here is the data where I am using arrayformula:

G2 has the formula:

=arrayformula(if(ISBLANK(E2:E),"",VLOOKUP(E2:E,'Product List'!$A$2:$C,2)*F2:F))

And here is the "Product List" from the other sheet:

As you can see, it is bringing in the wrong numbers:

What is wrong with my arrayformula that is making it do this?