If you just want to watch your DVDs/Blurays on your PC, or rip them to your computer's harddrive as either an ISO file, or their folder structure, and use other tools to work with them (like a player app, BD-Rebuilder, Nero Recode, Handbrake, etc) that can't can't work with copy protected discs. Then you use Passkey for that.
DVDFab DVD Ripper, and DVDFab Bluray Ripper... don't need Passkey to do their tasks as the ripper apps have the decrypt/rip feature built in, but they save their output to various video file formats (MKV, MP4, etc).
So like I'll use Passkey to first rip a disc to a folder on my hard drive, then I'll fire up another tool to convert to MKV or MP4. Or I'll just use Passkey to rip to .ISO file, then drop that ISO on my Plex Media Server for use that way.
Or I'd use DVDFab Bluray Ripper to put my Transformers Age of Extinction 3D disc in my drive, and use Ripper to rip/convert to a MKV file in a "one click" type operation.
So its up to you if you need both.
I will say this... I like using Passkey to rip a few discs to folders on my hard drive first, then set those up as a batch job in DVDFab Ripper, start it, and walk away... rather than having to do each disc one at a time.