Hong Kong is probably going to have more varied places to eat, with it having such a large international community, it should generally be a lot cheaper too.
As for a food capital, it depends on what you define by a food capital. If it's by say, 3-michelin starred restaurants, Tokyo has the rest of the world spanked. But if it's down to varied, different cuisine, HK would definitely be up there, in part again, due to the large international community. That probably puts it up there with London when it comes to choice, but the prices by comparison makes it a potentially sweeter deal. That said, there are plenty of Japanese places that do take food from around the world, refine it and give it a Japanese twist though, which can always make for interesting surprises and can often end up better (in some ways) than the original.
Hong Kong is still very much a city, so I'm kinda lost about the "feels more like a city" thing.