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Seems to me that the main reason China would go out on an arm like this for Hungary is that the EU is currently taking extraordinary measures to isolate Orban for holding up various EU/NATO projects by refusing to fall in line. Geopolitically there's an opening here to prop up the dysfunction of EU/NATO that goes away if Orban gets couped.
And yeah, Orban is a reactionary and all that but I don't see a huge difference between this and giving support to the reactionary theocrats in Iran. You go to war with the allies you have, not the ones you want.