I understand VPC Peering is used to establish connection between 2 VPCs. And to connect to another Application/Service in another VPC, VPC Endpoint Service is used. But can't a VPC Endpoint Service be connected via VPC peering?
A use-case/scenario will help
You can find a lot of info on VPC peering here:
It is, like you already said - a (network) connection of two VPCs.
A VPC Endpoint gives you some more options - you could say it is build on top of the VPC peering idea.
Here is a short articel about it:
It also menntions some use cases, like