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I'm looking at the live unconfirmed transaction page at blockchain.info, https://blockchain.info/unconfirmed-transactions which currently as I write this is running at around 166,000 transactions.

When I look at the chart labeled Mempool Transaction chart https://blockchain.info/charts/mempool-count with a description of "The number of transactions waiting to be confirmed", I see nothing that goes over 50,000 and for the current time shows only 22,066 transactions.

Seems like they should be the same. One is current unconfirmed transactions and the other is the number of transactions waiting to be confirmed. What am I missing?

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You're not missing anything. If the two where sourced from the same full node, they should show the same data. It appears that there are two distinct sources used for the graph.

Sharp decline in mempool chart with slow recovery

By the way, the mempool chart of today indicates that the full node sourcing the mempool count chart was uncleanly shut down today, which is not reflected in the other count either. On a clean restart, it would have simply reloaded the persisted mempool state, but instead it took hours to build up transactions in the mempool. (Alternatively that full node predates Bitcoin Core 0.14.0 when the feature was introduced.)

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