AnyMP4 Blu-ray Player Is Not VLC -- it uses some VLC open source code, but then so do apps like Kodi. Is it better than the free Leawo Blu-ray player? The Leawo player uses ffmpeg rather than VLC code, so one way to approach it is which gives you a better picture, to your eyes using your TV or whatever screen. Leawo is a more mature app, with better controls, but that stuff should be secondary to which one gives you the picture that looks best to you. PowerDVD Ultra 18 outshines both of these players, & at somewhere between $30 & $40 on sale may not be considered terribly expensive, but if you make backup copies of the Blu-ray discs you own, those with Cinavia DRM won't work, so a player like AnyMP4's or Leawo's as a backup may be necessary.
videohelp[.]com/software/Leawo-Blu-ray-Player
One important note is that you can rely on an app like PowerDVD Ultra to work with the Java-based features on a Blu-ray disc, since Cyberlink pays license fees to the Blu-ray folks. The Leawo player attempts to -- the AnyMP4 player does not. Since a Blu-ray's DRM is often partly based in its Java code, deactivating that DRM may or may not break some or all Java-based features.
Another way the players differ is in file type associations -- e.g. which app opens when you double click a video file. PowerDVD will pester you from time to time, but won't take over. Leawo will take over when you install it, but lets you turn that off in the menu. AnyMP4's player just takes over, period.
A part of a Blu-ray's DRM is often 50 to 100 or more playlists, and some will even create a virtual playlist on the fly, rather than use one of the dozens of playlists in the PLAYLIST folder. Some of those playlists are for things like features & menus, while many are just fakes. The title video [e.g. movie] is often split across several files, with a few extra fake video files also thrown in. The *Real* playlist has a list of which files to play in what order -- a wrong playlist might seem OK for a while, but eventually shows a black screen or warning, &/or may play scenes out of order, or skip them entirely. Any player that attempts to bypass a Blu-ray's DRM will sometimes get this stuff wrong. The same can be said for any decrypting software, though performance can vary by brand. A player like VLC doesn't have any idea how to manage that mess. There are a couple of packages you can add to VLC to handle some, but not by any means all Blu-ray DRM.
AnyMP4 Blu-ray Player isn't bad to install, but it's far from portable. You get the program's folder, plus folders in ProgramData & Users\ [UserName]\ AppData\ Local\ . It might be better to set a restore point in Windows before installing, because uninstalling the app will not put your media file type associations back as they were. I tried the player with a recently released Blu-ray, and it did play the title movie, though since I was using a VM with a 1024 x 768 window, the app's menus when it loaded the disc were barely visible, being cut off.