I don't know why you'd pick either.
Sony just doesn't have a lot to draw on. Maybe see if there's anyone in the company who has an ounce of creativity to just come up with some new characters; because they are going to need them.
I'm not sure I entirely agree with this. Like, El Muerto would essentially be a new character since there's almost no source material and they won't stick to even those 2 issues that exist because the character's whole thing was that he wanted to avoid being a pro wrestler or a superhero and he had to be saved by Spider-Man. I think they actually have plenty to work with if they want to stick to Spider-Man supporting characters, but what they need is
1. Someone like Feige who knows the source material well and can oversee things, work on actually planning out a "phase", deciding what to adapt, maybe make a throughline of overarching themes or stories rather than just throwing every character they can think of at the wall and making such nonsensical scenes as the Morbius post-credits
2. Directors who are able to see the potential in characters and use that. I think James Gunn is a good example of someone like that. I'm not necessarily a huge fan of Gunn's humour nor do I think everything about how he's adapted his characters is how I would've liked, but there's no denying that the man is capable of making people care about characters they probably never heard of or never cared about (GotG's main team as well as Yondu, Nebula, etc., Ratcatcher, Polka-Dot Man, Peacemaker, Vigilante, etc.).
As I've said before, I think they actually do have quite a bit to work with that could work just as well as an MCU movie, if there are competent people working on it that actually have some vision for the project, rather than seemingly just pumping out movies on commission. If people can care about Polka-Dot Man they can care about most of these characters.
I think out of the projects Sony has attempterd (excluding Spider-Woman and Silk because they're just Spider-People protagonists) Venom, Morbius, Kraven, Black Cat and Silver Sable are all characters that have enough history and don't neccessarily require Spider-Man to work (although several could definitely benefit a lot from having Spidey in their story). Hell, even that Nightwatch project they had planned at one point could work, given that Nightwatch does have a pretty unique origin and at least had 12 issues of his own solo comic plus a bunch of appearances in Spider-Man comics.
Madame Web I feel doesn't really ever work as a protagonist and Jackpot and El Muerto have literally nothing to work with.
Like I said before, I do think Sony has plenty of characters and stories to draw from that I think could work well.
And if you do want a Spider-Man Cinematic Universe, why work on a character that's pretty much fully original before you do the likes of
Black Cat
The Outlaws
- Silver Sable
- Prowler
- Rocket Racer
- Puma
- Paladin
Cardiac
Solo
Man-Wolf
Grizzly
the Slingers
- Dusk
- Prodigy
- Hornet
- Ricochet
Superior Foes of Spider-Man
- Boomerang
- Beetle
- Shocker
- Overdrive
- Speed Demon