Yes.
They are different techniques to achieve different things, so not really comparable. The Tormek is a grinder, Scary Sharp is a honing method.
Sharpening is a three stage process, not all of which are necessary at each sharpening. That's grinding, honing and polishing.
Grinding is a way to remove bulk metal to establish or repair the gross shape of a tool's edge, often called the primary bevel. It can be done on a high-speed bench grinder, a water-cooled slow-speed grinder such as the Tormek, a hand-cranked grindstone, or even by rubbing the tool on a coarse abrasive of some sort. Each method has it's pros and cons; the high-speed bench grinder is quick, but can overheat tools and spoil edges if care isn't exercised, the water-cooled and hand-cranked grinders are slow and sometimes rather messy, but allow easier control of metal removal, the rub-stone is cheap but very slow and labour-intensive.
Honing is the way of establishing and maintaining the working cutting edge. Oilstones, water stones, ceramic stones, diamond stones and abrasive papers and films (scary sharp) are the methods, and again, all have their advantages and disadvantages. All can be used either freehand, or in conjunction with honing guides. Everyone has their own preferences, sometimes very trenchantly expressed, but they all work.
Polishing is the means of refining a honed edge when an extra level of sharpness is desired. Again, fine oilstones, water stones, ceramic stones, and abrasive films serve well - there is some debate about ultra-fine diamond stones, but some people do use diamond lapping pastes on laps. Again, they all work.
Oilstones have been around a very long time, can be obtained at a range of prices from quite cheap to very expensive, need nothing but a bit of light oil to work, and are therefore 'bench friendly', and leave only a fine film of oil on tools so don't encourage corrosion. They generally cut quite quickly, wear very slowly, and many generations of fine craftsmen have needed nothing else. However, they struggle to cut some of the more modern 'fancy' tool steels.
Water stones are quick-cutting and available in a large range of grits from very coarse to very fine indeed, so any level of sharpness desired can easily be obtained. They do, of course, need water, so are best used on a separate sharpening bench away from the main workbench. Some wear very quickly, and need means of keeping them flat enough for use is necessary - a flattening plate or abrasive paper on a flat surface. They vary in first cost from not very much to very costly.
Ceramic stones are expensive in first cost and not freely available everywhere, but have very slow wear and cut moderately quickly. They can be used on the bench, and take up very little storage space, which might be a factor for some.
Diamond stones are available in a range of grits from coarse to pretty fine, and will abrade pretty well anything, including all the modern 'fancy' tool steels. Bench friendly, but quality does vary a bit - cheapest isn't necessarily best. Many people have turned to them, and sing their praises.
Scary sharp is cheap in first cost, but can be expensive over the long term in replacement papers or films. It has one big advantage for odd-shaped edges, in that abrasives can be glued to shaped sticks to make custom 'slipstones'.
Polishing stones (of all the above types) tend to be very expensive relative to work-a-day honing stones, but you only need one!
Hope that helps a bit.