The W-LAN standard seems to be the same, but there are differences in the place of use and operating modes, among other things. You can find a comparison here:
https://www.galaxus.ch/Comparison/11493991-12285749
Yes, the FRITZ!Repeater 1200 can also be operated as an AccessPoint; AVM calls this a LAN bridge. This can be set via the WebUI.
Here is a link to this (although it is for the 1750E, but this is identical for the 1200):
https://avm.de/service/fritzwlan/fritzwlan-repeater-1750e/wissensdatenbank/publication/show/903_FRITZ-Repeater-per-LAN-mit-der-FRITZ-Box-verbinden/