The Dragon God is stated to be Ryuujin, the Dragon of Tide and Storm. He's established in Japanese myth, thus he CAN'T be Hong.
There are no oceans in Gensokyo; why would a god of TIDES be the chief deity of a small isolated "country" (for lack of a better term) that at best has a river and a lake?! That's DUMB, that just doesn't make sense. Two, it's not unheard of for a figure in one cultures' folklore to appear in another as an apparently unrelated entity.
TLDR: I'm not convinced, and neither should anyone else be.
EDIT: Long time to answer, but I had trouble thinking up a counterargument.
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