ESP32 Arduino vs M5Stack Arduino

[Kabron]

If you are going to define M5 family board in Board Manager, you'll have to choose between two separate variants:
ESP32 Arduino and M5Stack Arduino.
See the screenshots.

These variants are not the same but quite different.
And compilation results also different.
As I partially understand the first variant will works with mostly ESP32 libraries,
while the second one will use M5Stack oriented libraries.

Are there gurus who can describe in details these differences?