Well, there is only one official DVD-format. That's used by all retail DVD's you can buy and played by all DVD-players.
Then there are data DVD's. Data DVD's can contain any file (for example, the Windows 8 installation DVD is a data DVD). If one of those files happens to be a movie in some format (and there are a lot of formats), to view it you need a program that knows that format. There's no program that knows all, VLC player knows a lot. If it doesn't, just find and download the program you need for that specific format.
I see no disadvantage to having different programs to play different formats. It's like using Excel to view a spreadsheet and Powerpoint to view a presentation, if you can't find a program that does both.
I am looking for a dvd player that can play almost all kinds of dvds( all formats), if anyone knows where I can download it please let me know.At the moment I am usng vlc media player.