Actually, that is not quite right. While tannins may affect pH most significantly initially, any driftwood or organic plant material will have an overall effect on pH because of natural decomposition. The decomposition process results in the release of carbon dioxide, which mixes with water to form carbonic acid (a weak acid, but an acid non-the-less). Plants that are growing are constantly losing leaves and stems and regrowing new ones. This dead organic matter undergoes the process of decomposition in our aquariums and has an affect on pH, same with driftwood and peatmoss. Driftwood is simply a dead piece of wood that most likely has already started to decompose prior to hitting the aquarium, but most certainly begins to do so once it hits the water. Peat moss by definition is a combination of peat (dead organic matter) with moss growing on/in it. The rare exception to this would perhaps be those few types of driftwood that break down so slowly in water that their effect on pH would be minimal.