Welcome to THP facultyoffood!
Sauce that isn't fermented is usually made food safe by the addition of acid (commonly vinegar) and/or citrus juices, etc. Fermented sauce has been stored with salt (and sometimes starter) and left for a period of time to ferment; that is the production of lacto bacteria to secure the food from spoilage. There are similar characteristics with each, but for my taste ferments are infinitely more complex and nuanced that vinegar sauces. I love them both, but I consider fermentation an art really. I'd compare a great batch of fermented sauce the same way some people talk about making a great batch of beer or sausage or jerky or perogi or cole slaw or dumplings or pizzas ya know? That's some artisan type hsit going on right there!
Try it both ways Jonathan. It's the only way you'll ever really know. Make a small batch of each with the same peppers as main ingredient and find out for yourself.