It doesn't pretend to be a capital gains tax at all. It's a tax on income from assets, which is in practice more or less a 'wealth tax' which is also why it's called the Dutch word for 'wealth tax' in the first place.
It is a tax on an assumed return on assets, determined as a set percentage of wealth. "Vermogensrendementsheffing" means a "tax on return on wealth", not on the wealth itself. In name it is not a wealth tax, but in reality it is, since the assumed return that is taxed has no relation to the true return. This relates to the recent decisions declaring this partially unlawful, see e.g. https://www.tilburguniversity.edu/magazine/supreme-court-net...