Chaos magic. Is it necessary?

Chaos magic is simply essential for the Dark Elves; combined with the Arcane Wave spell, it achieves a devastating effect. Other races don't need it.

The Dark Elves definitely need it. But the Academy also needs it. Necromancers sometimes need it, and so do the Dwarves. And even the High Elves might find it useful, but Forest Elves need Light magic more, in my opinion.