Campaign Theater

[Ualaa]

At this point the main advantage would be the Campaign Theater interacts with the digital form of the character (Hero Lab) natively as they're both products by the same developer.

The VTT has to either read the HLO URL of the character or has to import the character from the Lone Wolf version.
As either Lone Wolf or the VTT updates, that import (or read) of the Hero Lab may have issues.
Every time d20Pro (the VTT my group uses) has an update, it seems something isn't read correctly from the Hero Lab.
Currently, the VTT doesn't get movement or initiative bonus, so if I add a monster or NPC that I've made in Hero Lab, after doing the import I usually need to adjust those two values.

Having both as a first party software, the interaction would be seamless.
Down the road, the VTT-esque features of the Campaign Theater would grow, I'll assume.