These doges are breeding....
First ING, then Moiy, and now this one....
We're all doomed. *Sighs*
Also to answer your question I used PSOBB the same way launching via Steam, but since Steam wouldn't register it as a 'legit' game I had issues not only running it, but keeping it running without an instant crash. This game crashes a ton already for little to no reason other than 'because the game feels like it'. So if I were you I would use the launcher when starting the game as Soly does update the launcher, but as for what good it does I honestly don't know.
Just run it via the PSOBB launcher until someone can provide you a better answer.