They are related, and you'll have no feedback if both are at 0.
If I recall, Feedback Gain can be used to boost a low signal, while Feedback Volume attenuates the feedback signal.
Why not a single knob? Well, in the original Mopho yellow brick, the gain was not under voltage control, it was just a knob, probably there for the purpose of increasing a guitar level or something. Future versions of Mopho Keyboard, etc., made it a programmable control.