Alma seems more of a corporate thing compared to Rocky being community supported. I have both deployed and they both work fine. Alma seems faster to update, though this is RHEL, not Arch.

Alma also has a shell script that will convert other RHEL based distros to it automagically, which is pretty cool.

Rocky Linux also has a conversion script available https://rockylinux.org/migrate2rocky.sh

AlmaLinux is 501c6 non-profit, community based. RockyLinux is owned by Greg/his corporation.

If updates are a priority, you might actually be the right audience for CentOS Stream.

Does it receive security updates faster than RHEL?

Security updates, no. RHEL still gets those first due to embargoes.

Bugfixes and support for newer hardware, yes.

Mostly in who controls it. Rocky Linux has no corporate backing, while Alma is controlled by the CloudLinux people.

Rocky also has one of the original CentOS founders on board, it seems in spirit a lot more like CentOS before it got acquired by RedHat/IBM.

This is a fallacy. AlmaLinux is a 501c6 non profit. Not controlled by CloudLinux at all and CloudLinux are diluting whatever stake they have so that the community can have true ownership. AlmaLinux is trying to prevent what happened with CentOS before being taken over.

comparison: https://wiki.almalinux.org/Comparison.html