vesicles
Colonel
Except in one very important distinction: he did not restart the dynastic succession.
I agree that for all intents and purposes, Mao Zedong was the "founding emperor" of the People's Republic of China. He was (is!) even worshiped as a deity by the common people.
However, the Communist Party was about more than Mao, as demonstrated by the swiftness with which it acted to crush the Gang of Four after Mao passed away. So you could say that Mao was the Founding Emperor, succeeded by the "Council Rule" of the CCP, and Deng was the Regent until such time as the Council Rule matured.
Mao tried hard to hand his power to his sons. Unfortunately, his sons were all either killed or had main mental issues. He then tried to give his power to his nephew who unfortunately allied with the Gang of Four and was crushed by Deng. So if Mao got his way, China would be something like NK, which is pretty much a feudal society.