Neither of them are that great, but Alice is significantly better than Red Faction.
RF:A consists of really repetative combat and nothing else. You just wade through various kinds of alien bugs for the entire game. Besides, they're really annoying to fight. Most of them hang on the walls and some of them turn invisible and mess with the camera. Also, the levels are filled to bursting with enemy spawners.
Oh yeah, and the story sucks. It's bad even by video game standards. Space marine on mars kills aliens while making flat jokes, occasionally assisted by his sassy black friend and some chick named Kara, who might just be the most pathetically token female sidekick I've ever seen. And don't even get me started on the plot holes.
Alice on the other hand boasts lovely visual design and some decent platforming. Sadly, the combat is pretty mediocre and the story, while interesting, is not well told. Also, if you're planning on getting it for PC, be warned that the controls can sometimes be a pain. The game was clearly intended to be played with a cotroller and this shows.
So yeah... hope this helps.
(For the love of God, don't pay full price for RF:A!)