Well, I own both coins and I invested a bit higher, the most percentage after Bitcoin in my portfolio I would rather see both coins increase high. Neo price is high because it has 50 million coins, instead Waves has 100 million. You can earn more money by earning Gas in your wallet than leasing Waves in waves wallet. Those make Neo price higher than Waves in my opinion.
Moreover Chinese hype is stronger than Russian Waves platform, but I think both coins have a bright future.
NEO also has a much larger market cap than Waves does right now though. Waves won't be rising much until the new DEX comes out.