indeed!
the context is what makes the difference. imho, addressing thus introduces a degree of abstraction - and while there is a sense of belonging, the aloofness preponderates whereas in the usages like 'aap', 'aapka' etc. it's vice-versa. So the usage will vary with the kayfiyah which the verses are trying to convey.
thus,
aap se karta hai fariyad ke ya shah-e-rusul
banda bekas hai shaha raham me waqfa kya hai
ab koi dam me giraftare bala hota hun
aap aajaye aaqa kya khauf hai khatka kya hai
and
lo wo aaya mera haami lo wo aaya mera haami...
I also think, this is somewhat akin to the usages of both "I" and "We" in the qur'an al-kareem.
and Allah ta'ala knows best.