For my part, the distinction between a survival kit and a home preparedness kit is fairly trivial and I did not make a distinction in formulating the title (mea culpa).

Honest question - Does the difference lie in the distinction between "bugging in" and "bugging out"?

I prepare for either mode. If I stay, as I might in the aftermath of a severe earthquake (primarily because travel will be difficult, if not impossible) or leave, say, as in the case of fire (as I have done recently). It takes about ten minutes to sort and assemble the basic modules necessary for a quick departure (actual real world experience). Realistically, I don't think I will be heading for the hills, although that does remain as an option. Again it hinges on the disaster and its nature. Personally I think it important to be flexible and be willing to alter actions as situations evolve.

After all, where will any of us be when a big event occurs? During the 1994 Northridge earthquake, I was on San Miguel Island, and things got somewhat hectic since our mainland support was rather diminished (temporarily, thank goodness).

For several years, i maintained a SAR pack, adjusted with the seasons in southern Arizona, but set with the gear that would be required for either a rescue/retrieval (relatively short term) or a search ( often longer). When an operation came along, at first I attempted to fine tune the pack contents but eventually just grabbed the whole thing and headed out the door. There were situations where I used every major element of my gear. One just can't foresee the future all that well....