nothing prevents making a fourth-tier unit with a low stat increase.
The problem with the ballista is that it can't move at all; there's no animation, and if there were, I'd have to abandon the dwarves because I can't synchronize their movement with the ballista's movement.
I don't want to make a mortar; it's not in the style of AsKhan:D, but one of the upgrades could have a close-range flamethrower (like Greek fire), and for long-range, something else, like a magical stone that shoots darkness or fire.
Recalling some creations by Polish modders, a mortar doesn't seem out of place:D.