What's the difference between naming a component and making it a slot target?

What is the difference between naming a component and making it a slot target? They seem to be very similar, just wondering.

Slots can be edited in the studio to have different values in different component instances, while named components can not.
Slots are automatically added to the DefaultComponentProps when generating code, while named components are not. You need to manually add them as props in the skeleton file.
Maybe there are more differences, but these are the ones I remember now