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Well, I think the Academy faction is the strongest =)
Let me explain why.
UNITS:
Goblins are not the strongest, but combined with Golems, they form a good team. Golems, as units that can be restored, can be safely sent into battle if there are enough Goblins. Considering that this is the ONLY unit in the Academy that is designed for simply destroying the enemy in large numbers with brute physical force in melee combat and taking retaliatory damage, the chance of finishing the battle without losses increases significantly. Gargoyles are also good. Obsidian Gargoyles almost immediately (or even instantly) block enemy archers; it's pretty clear. Archmages are excellent spellcasters, although they don't have as much HP and are quite expensive, especially when it comes to mage buildings. They easily defeat Champions. Nice =) Rakshasas have less health than Ents, but at the same time, they are almost three times stronger in attack than Ents. The lack of initiative is easily compensated for by their offensive power and the fact that they don't take retaliatory damage. Djinns are almost an absolute failure for the Academy; they are a unit created specifically to prevent the Academy from becoming the ultimate cheater of all time. However, if you're lucky, a Djinn can also inflict plague on the enemy, which is at least some kind of effect. They can also finish off the enemy if they have already taken a retaliatory strike. Titans are simply amazing. Blocking them is pointless because they not only don't have any penalties but also have an infinite supply of lightning. They are also well-protected, and their damage is enormous.
Conclusion: all units are good, and Djinns can be skipped :D
MAGIC:
Well, I think it's clear here. The Academy is very strong in magic =). And they are even stronger in magic reflection. The Academy has a unique ability not only to resist the impenetrable enhanced magic of Necromancers but also to reflect this magic back at them. Taking into account the ultimate ability to gain all spells with maximum effect and the excellent skill "Wizard's Sign," which, in my opinion, is more effective than any surveillance or cursed sign when the spell is aimed at a group of low-level creatures, we get an excellent race that surpasses other factions in magic in many ways, with the power of its magic comparable to that of Necromancers (doubling the spell = enhancing the spell), and its reflective ability is unmatched.
Conclusion: it's quite obvious. I wouldn't join the Academy if I weren't sure of its strength. Besides, I really like the Academy in terms of the variety of its units. Elves are elves, they look alike, as do the Dark Elves (at first, I couldn't distinguish a Beast from a Dark Lord on the map), Humans have mostly humans, Inferno has everyone red and burning, Necromancers have corpses upon corpses, almost everyone is green or black... but here, there is diversity and vibrant colors, unique and charismatic units. I believe that the coexistence, the symbiosis of various creatures, is best represented by the Academy race, and this has continued throughout several installments of the Heroes series, starting at least with the 3rd part, and possibly even earlier.