The most recent game that perfectly illustrates that too much choice actually ends being no choices at all because everything becomes the same is Age of Wonders 4. Every race can be everything, and at the end you end up an amalgamation of all options. Someone referred to too much choices as "the integer overflow of game design" which I think is beautiful.
If no choices matter, you in reality have no choices to make. It's differences and meaningful choices that makes anything interesting. I want races to be distinct. That's... that's what makes them interesting. Races being just "skins" for a character is exhaustingly boring. Half-races being removed as a distinct people is also really distasteful in my opinion.
Oh I created an account only to say that most people like AoW 4 design. I personally love it too. Especially that they are tweaking the reaserch costs so the players will not be able to turtle and reaserch for the whole game to make everything, so planning build will be more important, especially in MP. Anyway, cultures gives buffs and opportunities, and they cannot be researched.
If Larian will be able to keep races different one of each other and balanced, than it is fine. On the other hand I am worried that they will not and so "smaller" races (which are slower by default) or races which had 2+ and 2+ will be just overally weaker if they didn't get any other special powers/ feats etc. I am searching for info on YT about it, and there is no real comparison at all, so I am worried, that they only changed the main stats and that's all. That would be shame.