When just briefly considering it, your comment makes a lot of sense. But when you take a second, the logic doesn't hold.
In my opinion, it is equally about "leverage" as it is actual wire thickness when it comes to predator proof claims. One of the points of using hardware cloth is the opening are almost always either half inch, if not quarter inch. An animal might be able to wedge a tooth in there to try to bite, but it is much harder to accomplish than when dealing with a 1 or 2 inch opening. Also, due to the smaller weave, if they do start a hole, they are met with super sharp wires that are now digging into their gums/tongue. With chicken wire, the opening just peels back and away due to the "weaker" wire being more flexible.