TBP is total conversion, it changes everything in FS2 that is possible to change. It is still a mod though. And for campaigns, it will have many historical battles seen in the actual show or movies, but mostly TBP-made campaigns will follow strictly B5 main storyline. Of course there might be small conflicts but we aren't perfect.

Examples for upcoming TBP campaigns: Earth - Minbari war (larger version of the demo campaign), Earth Alliance Civil war and Narn - Centauri war only to name few first.
I don't know what I should say of "ripoff comment", but out TC is based on Babylon 5 TV-show and movies, the best scifi-series I have ever seen. You should watch it sometimes, first season is not that good though. But Shadow war and EA Civil war are the seasons you should watch.
Anyways, I'm waiting for Blackwater Ops, that should be very nice mod indeed.

I don't really care of "few ships and weapons" mods as there is thousands of them, some are very good and some are not. I prefer larger projects that are trying to improve FS2 with iron fist, like BWO. (No, I'm not saying that IceFire is a dictator

)