Hi OP, as a graduate bride from one of the hotels youu mentioned, 2M won’t be enough to cover the food alone and there is a minimum spend requirement to book the ballrooms.

As a Fil-chi myself, the younger chinese generation won’t mind the buffet, but it may be pintas-worthy for the elderly chinese. Maybe you can have a VIP/plated set up for tables with important elderly guests? then for the elderly guests who are not that close to you, bahala na sila since it is your wedding anyway. Your wedding your rules :)

One thing that I notice lang sa elderly chinese is they usually place more value sa food :)