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TE – an overpowered faction, develops very quickly, and doesn't lose any troops.
Orcs – Initially, no one knew how to play against them, and they were considered the best faction, but then loopholes were found.
Elves – A good faction, but if you eliminate the archers early on, the faction's army becomes weak.
Inferno – I can't say anything about them (because I don't play them well).
Mages – The second-best faction after TE, many people play it (even more than TE).
Dwarves – The same as with Orcs.
Necropolis – A faction that replenishes itself (if it has 2/3 of its faction's castles, it becomes practically unbeatable + a huge army!). Of course, not infinitely, but still, not for resources. + numerous and strong, and also has a lot of immunities.
Haven – Sorry for not writing about it earlier, it slipped my mind (it happens). It's all ordinary and a bit boring, this standard faction. But as Lock said, it's played by those who don't play Necropolis. In my opinion, it's a primitive, standard faction.