Its not mutually exclusive. These chiptunes cone from key generators which is why its called keygen music.
> Illegitimate key generators are typically distributed by software crackers in the warez scene and demoscene. These keygens often play "Keygen music", which may include the genres dubstep or chiptunes[1] in the background and have artistic user interfaces.
Some of them come from there, a few of them even exclusively composed for this or that cracking group to use in their key generators, but the vast majority of them were just taken from prior intros (demos) and crack intros from a time before software began commonly using calculable serial keys. The history is not the least unknown to me, as I grew up in both the demo scene and the "elite/piracy" scene of the Commodore 64 and the Commodore Amiga - where all of this began.