I have both cooler.. and I can't answer that question simply because I haven't tried adding a second fan to Mugen 5. So, I will only share my thoughts on this (interesting) question.
First we need to know with what CPU temperatures we're dealing and what we actually wish to achieve. Because I had both cooler on 5900X and both are good for non OC CPU. And before I continue, if we're talking about less power CPU (i.e. 5600X), then Mugen 5 is enough even CPU is overclocked.
If we continue with 5900X CPU and everybody says Fuma 2 is better.. is that because it has two fans, where Mugen 5 only has one? I think that's not the only reason. I think, even if we add 2nd fan to Mugen 5, Fuma 2 will still perform better.
The thing is, Fuma 2 is two tower cooler, where fan is placed in the middle. And it has been kinda proven that if fans are too apart, we don't gain much cooling performance (check
Ninja 5 cooler review at
Gamers Nexus), because 2nd fan will not only "suck" from fins area, but also air from side (fins cause resistance to airflow). Ok, Mugen 5 is not that huge as Ninja 5 is, so we can expect improvement by adding 2nd fan.. I just think improvement will be smaller than we hope for.
But then, just by replacing original fan with Noctua Redux, we can already expect improvement: simply because of much higher fan speed. In this case however, it will be loud. Ok, loudness aside.. will it be better than Fuma 2? I still think it won't. Because Fuma 2 has bigger cooling (fins) area.
To conclude my thoughts... for moderate overclocked CPU (and keeping price in mind), Mugen 5 is excellent cooler for 5600X CPU and Fuma 2 is excellent cooler for 5900X. Performance of both can be improved a bit by replacing fan with some higher rpm fan, but then we sacrifice silence comfort.