Of course seat per cost is key. Which is exactly why a somewhat smaller plane than the CR929 would be ideal. Especially given the geopolitical situation China will be in.
A321neo is great and all, but it's not a true middle of the market design. Boeing was very close to launching such a design, but the western market is not (yet) ready for such a design. It just doesn't make sense to spend tens of billions when the existing designs can serve the high and low ends of that middle of the market piece of the pie. But when the next generation of planes come - it may indeed be worthwhile to create such a plane even for Boeing.
However, the Chinese airline companies' market, especially one limited by future political barriers that are bound to spring up, is going to be just ripe for such a design even earlier. They don't have existing planes to encroach on the higher end of said market.
Heck, even the low end (C919) is likely gonna be in demand for the internal Chinese market so much that super long range optimized versions like A321neo will not even make sense to get invested in for a long time to come. At the same time, SOME sort of longer ranged plane is going to be needed, a bit longer ranged than even A321neo can offer.
So investing in an even more optimized, true middle of the market design, will make more sense for china then trying to do what A321neo did.
China will be in a position where Europe was in the 1970s and 1980s, when they launched A300. Lots of medium length routes outside China, but very few long range ones. (of course, adjusted for this day and age. Back in 1980s, A300 could reach over the Atlantic and that was enough. For China in the near future, reaching Europe/Middle east would be enough. Not only enough but optimal. As going for longer reach means plane is less efficient on those medium routes.
China certainly doesn't have the need or money to waste and make two widebody plane types. Middle range routes are more plentiful and there's less competition in the near future for those, until Boeing or Airbus get on that bandwagon. (Not that western aligned countries will be buying COMAC planes but maybe a few sales to "neutral" countries might be achieved)
Using a 12 000 km plane on such medium range routes would not be economical. So out of the two designs, a A300 sized nine-ish thousand km plane would be a better choice. Especially with a sister variant - an enlongated shorter range variant of similar MTOW which would sacrifice some range for extra seats (to serve the middle east/turkey etc)
TL,DR: There will be far too few profitable direct lines to Africa and there will not be any lines the North America for Chinese made planes and possibly even Chinese airlines period. Hence a very long ranged plane with a high MTOW is not the optimal solution for the needs of Chinese airlines.