@kavakat damping involves reducing unwanted vibrations using extra mass or squishy materials to absorb them. Isolation involves separating the component in question from vibrating surfaces.
Things like platforms with springs or spikes would be isolation, where the foam product you posted or sobothane would be damping.
Isolation is important for turntables and tube gear. Maybe disc players too, I don't have much experience there, but I'd imagine the same reasons isolation works for turntables would make it effective for any spinning disc.. damping works well with SS components and some say with speakers too, though I prefer mine spiked. I did add dynamat to the inside of my speaker cabs, though, and that helped clean up the bass. That would be considered damping.
