Rude does 2200 damage. PCHP is... 5000 against Sephiroth, and Rude isn't that much earlier. Now, you can take materia modifying HP figures in either direction; personally, I assume that positive and negative balance out. Jet is fine as long as average HP at the time is above... 4700 or so, on raw comparisons.
It may not be. It's really close. That said, Jet gains a slight amount of durability each round, which probably pushes him over the top. And there's the possibility of evasion and criticals, or that Rude straight up dies to two Jet attacks. I can see voting Rude here, but overall I really think that Jet is the favourite in quite a few ways.