This is generally true of any title, though working titles do address temperament more than conformation titles, and a dysplastic dog is not very likely to become a agility or lure-coursing champion. For the most part, Kennel Clubs are registries. The terms are often used interchangeably. These clubs are usually affiliated with one of the registries, and are the groups that put on dog shows and trials. Some registries are stricter than others as to what dogs they will register, and some promote the welfare of dogs better than others.
Some registries seem out for a fast buck from ignorant puppy buyers and breeders.
Some breeders work with multiple registries, and even charge differently for pups depending on which registry the pup is recorded with. There is no honest reason for this that I can think of. These lesser quality registries are sometimes referred to as paper mills for puppy mills. At the very least, you should be able to expect that a registered dog is the breed he's supposed to be, and of the parents and ancestors he's supposed to be. Unfortunately, this isn't always true, and the information can be inaccurate or misleading if the breeder is not responsible.