There was a book around about 20 years ago with a title like Capsule Concept - correct me if I am wrong. In it, the author had lots of coloured diagrams of various capsules, each seemed to have about 5-7 pieces. All were colour coordinated, and they all worked together to give the maximum number of combinations.
SWAP is basically the same thing, but extended to 11 pieces. An enlarged capsule really.
I don't think there is any difference except in the number of pieces.
There have been wardrobe plans around for ever, SWAP just evolved from a discussion on Sewing World, and it has come to mean the 11 pieces, in which you have 4 bottoms, 6 tops, which gives you 24 combinations. But the addition of item #11, the jacket, doubles all of those. So it has 48 combinations which is probably about the maximum anyone would want with a certain set of colours, textures, print, etc.
Last night, I was going through my stash and besides all the blues that will make one SWAP, I have this new print that I bought from Fabrics in Vogue (yes I buy from them too). It goes perfectly with a red wool in my stash that would make a great jacket, and it has the charcoal and black, of which I must have at least 30 pieces of fabric, waiting to be sewn. I could be here for a couple of years making these up. Julie