There's a huge catalog of bands and watch faces/themes too for the MiBand

Of course Honor does synchronize progress with cloud, what are you talking about?

There's a few third party apps that allow you to use the Mi Band to control the camera 

As a matter of fact, this article deserves no accolade! The Honor band 5 cannot compare to the Mi Band 4. With Mi band 4, you get all customizations and alot of integration with third party apps. Why am I even arguing? It's very obvious, the Mi Band 4 is the best fitness tracking device currently. Thank you!

No. I disagree.
No cloud syncing of data. U change mobile, u lose all data.
Mi fit app and it's integration is way better.
Much development on 3rd party app for Mi fit, like tools and mi band and notify and Fitness.
Remote camera available with these apps. While remote camera only for Huawei device with band 5.
I have honor band 4, honor band running running, mi band 3, 4 and galaxy watch.

Again:

"A Xiaomi Mi Band 4 alternative with hardly any weaknesses"?

I'm sorry, but I fully disagree with you. While the Honor Band 5 does offer a lot of features (especially the sp02 sensor), it also lacks so much in functionality. And i'm missing quite a for things from your review.

For example. While the Honor band health app does show the information a lot better over the Mi Band app, the mi band isn't closed like the honor band is.

For example. For the mi band, you have Gadgetbridge. A free and cloudless replacement soft/firmware. Notify & Fitness or Tools & Mi Band, which can greatly improve your notifications AND create custom button actions.

That cannot be done with the Honor Band 5 because it's so closed off, people cannot create third party apps for it.

Another example is that while it's true the band has "Connected GPS", it only works in a 1 day direction. Only when you use the phone to start an exercise, it'll show the information on the band. But if you start one on the band, it will not connect to your phone to use its GPS. This has been confirmed by the Honor team when I contacted them as this is "not a feature at this time".

While it is true that the honor band 5 shows a lot more information (such as the sleep and sp02) it doesn't compare to what it lacks and as such I returned it. Sure, it's a cheap device.. but come on, even the mi band was smart to open up the device a bit so third party apps can connect to it.

It's a shame I see those points lacking in your review.