They both heal, cauterize can with grenades.
If anything, cauterize is far better.
Tell me one situation where you can have activate two Blink Strikes in an engagement to activate Hungering Blade for the next foe.
People overlook the fact that the melee regen is the Blink Strike charge, not the melee.
If you knew all that and want to have a typing war, then yes. Cauterize has a 3 second cooldown, making Hungering Blade better for more foes than Cauterize. But then consider that Hammers offer a long range attack and more armor while Arc Blade doesn't.
And then, if you considered that and are tired of Huntards arguing, I dunno. i'm not making a subclass war, it's just a point. Josh was very hypocritical when there is a very close relative to Hungering Blade and that's all i'm saying.
TL;DR Calm down, I know a lot of people pointed that out, but I also did. Whoops. It's a fair point in the grand scheme of things.