I agree on the general superiority of the Honor Band, in terms of functionalities, app, accuracy.
The Mi Band has few dedicated activities, the Honor much more.
The app Mi Fit is quite ridiculous, while Huawei Health is very good.
Mi Fit never estimates correctly the overall distance, even after several calibration attempts. The Honor is much better in this.
However, many hardware features of the Honor are just a joke, names put in a list of specs for selling more. I had both a Huawei Band 3 Pro and a Honor Band 5: never seen the VoMax and, on the Honor, the measure of the Spo2 has NEVER been successfull.
I am now using the Mi Band 4 for the better integration in Google Fit, but these two bands are simple toys for people, like me, who cannot a Fitbit or Garmin device.
Such Chinese approach to fitness is becoming annoying. Even for scales, both Huawei and Xiaomi sell devices who can just measure the weight in an incorrect way, not to mention the rest of the parameters.
Some types of devices cannot be too cheap: Xiaomi and Huawei are selling pieces of crap calling them "fitness trackers" or scales, but they are just toys put in the hands of old children.