It would probably be emotionally harder to spend the same energy on visiting the dying in hospice care but it would be more than symbolic. I'd rather have you show up and say "Hi, want to talk?" than go to my wake.
But since I don't do either you're a more compassionate person than me either way.
I notice several people saying the energy is better spent on hospice, but these seem like different activities to me?
Not everyone who dies spends time in hospice. Wikipedia says 7-8% die from accidents and violence, and over 30% die from heart disease, which would include sudden death due to things like heart attack. I'd also expect those who die in hospice to be less likely to have unattended/low-attendance funerals. Family and friends have time to plan and gather for the death because they know it's coming. They also have time to adjust start the grieving process.
If someone I knew died suddenly and I was the only one who could make it to their funeral, I would certainly appreciate having someone else there as a witness, even if they didn't know much about the deceased.
But since I don't do either you're a more compassionate person than me either way.