Personally I agree that honor in cf is more about parity than anything else, but here's how I think Vahl and Vlad etc. make the argument...

Honor to them is more along the US 'medal of honor' lines than 'I'll fight you alone lines.' It's doing your duty (whatever that is) regardless of the circumstances. If it's you with your platoon against an outnumbered enemy, as long as they don't drop all their weapons and surrender, sure. If it's you alone and outnumbered after the enemy has gunned down all your friends, well, then you still do it and try to save your friends in the process.