The way I would put is as: Iroh + iroh-blobs == libp2p + UnixFS + Bitswap, and the latter three are some of the critical components that have defined most IPFS implementations.
Besides just p2p streams seem to be much more useful, those are plug-and-play into most software, e.g. I wrote https://github.com/magik6k/git-remote-iroh that just plugs the git remote proto into iroh and lets you move repo commits between computers by just copying a string from one place to another on push. Doing that with blobs - not gonna happen, not that easily.