So let me sum it up:

Mine Blocks 1
- Based off of Minecraft.
- Only a sandbox game.
- No multiplayer, no texture packs, and no mods.
- Finished game, but still adding new features.

Mine Blocks 2
- No particularly based off of Minecraft, nor Terraria.
- Will have story mode, survival, and probably a few other modes.
- Most likely will have multiplayer. Most likely will have texture packs. Probably no mods.
- Is not a finished game. In fact, it's barely even started.

I hope this makes more people understand the difference now!