Factions still have advantages and disadvantages, they aren't really that similar, it just closes the gaps between the really strong ones. Nord become less dominant thus opening up for Rhods to become more so viable against them. Nord cav has more shield skill thus making it harder for xbows to shoot through, makes Nord cav better on open vs xbow factions.
Basically Rhodoks for example are now viable on an open map, they aren't a liability as before, Nords are more useful on open maps for more than the free javs. Factions still have advantages over one another, but it gives us more options to play with and use in matches.