Correct - two different systems, for two different uses.
Bearing Buddy systems are designed for boat trailers. The purpose is to keep the water out of the bearings. While driving to the boat ramp, the bearings will heat some, then when immersed in cold water, will cool rapidly. If they are conventional bearings, water will be drawn into the hub. All will be fine, until, on the way home the bearing will overheat as it now contains water... and there goes the wheel(s).
The bearing buddy has a spring & cavity for extra grease; when immersed, it'll contract, but no water will be pulled into the hub.
That all said, I have bearing buddy units on my boat trailer, and have been satisfied with the performance. Next, I've had conventional bearings on all the trailers I have/had over the years, and always installed a new seal & hand packed them after acquisition, then ran for years afterward with nary an issue. I check 'em every 3-5 years. All is good.