Sorry to be so naive but what is this meant for? As in where all could I use this?
Basic bash completion looks for files in the filesystem. The bash-completion package provides hints so that you can auto-complete semantically, for example
$ apt-get up<tab><tab>
update upgrade
$ apt-get install bash<tab><tab>
bash bash-builtins bashburn
bash-completion bashdb bash-doc
bash-static