From watching a mix of both this week, I think wuxia films are closer to fantasy-adventure than to kung fu movies, but they get lumped together a lot in Western release because "Chinese film with fights in".
It would be like if Lord Of The Rings was marketed as a HEMA martial arts movie, and got a reception of "There's 5 minutes of cool sword and bow stunts, but then they walk around a forest talking about jewelry for the rest of the film, 1/5"
It's a completely different set of expectations.
@pastelbat well now i want to see a hema martial arts movie