NHF – new heroes for Heroes V 3.1.

Light doesn't really need a guild; it's enough to just boost its magic skills, and that's its advantage. Punishing Strike is, of course, not easy to land, but things like blessing/removing curses/regeneration/acceleration/stone skin are easily available.

This is just a small justification for the hero's viability (and you can find them for anything). The hero has noticeably more drawbacks.
And it's a bit much to have both Wrath and Magic. But, most importantly, why discuss something that can't be done correctly? :)

A hero should be chosen to suit a specific build, not the other way around. Especially if the hero isn't a "relic of the past." At least because not everything can be done at the desired level.