Yes at least some rebalancing would be in order.
I love they removed the racial stat bonuses, which really only served to make certain races predestined for certain classes.
But they didnt properly rebalance the races afterwards.
I dont really get why Shield Dwarves only get medium armor and thats it. That only helps if you choose a class like Wizard. Compared to the uber 1 hp/level that Gold Dwarves get thats a joke, and a sad one. Gray Dwarf looks fine-ish, superior darkvision, advantage against various spell effects, two great spells on their own - if you like dwarves, that should suffice as motivation.
I also would make racial damage spell abilities scale with level. Like Dragonborns breath weapon, or the special spells of Tieflings.
About humans, their specials are just weird all over the board. Extra carrying capacity ? Thats a dwarven thing. Arms training ? Doesnt fit to the "flexible" race that humans are in D&D; also its quite useless, polearms are only useful if you have high strength, and in D&D5 you only focus on strength if you wear heavy armor. I would give them a skill and a feat and call it a day. If that doesnt convince you that humans are worthwhile, nothing will.
