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In my opinion, the number of factions should be such that the ratio of diversity to balance is optimal. This is somewhere between 10 and 15 factions.
The worldview can also be diversified (although I don't see much point in it). A race of angels might want to make the world a better place, a race of dwarves might only want to protect their borders, and a race of Chinese might want to conquer the world.
The worldview can also be diversified (although I don't see much point in it). A race of angels might want to make the world a better place, a race of dwarves might only want to protect their borders, and a race of Chinese might want to conquer the world.