Balance is going to be a constant battle in the current design of the game, yes. And it's basically the case with every multiplayer online game because obviously when you spend hours of work getting content in, you want that content to be a considered option against other content in a direct fight scenario.
However, this game, like other games that take place on the WHOLE middle ages with no real "tech system" is that you have to more or less realistically and logically balance weapons that simply were not used at the same time during the period. The middle ages are pretty darn long (a thousand year) and over those years, just in western europe, the equipment of the average soldier changed dramatically. Shields were replaced with heavy armor, allowing the more widespread use of long swords and 2 handed pole-weapons and giving birth to anti-heavy armor weapons like the war-hammer (which was way smaller than those in the game BTW.. a hammer so big as those in the game would be bad in combat because the second you get parried there's no way you get back in a guard position before the other guy rushes in on you and stabs you in the neck with a knife).
Swords became more widespread among the common, lighter armored soldier because they are objectively better than axes (way bigger cutting edge, possibility to use the pommel and the guard as a makeshift hammer with half-swording, and no shaft to break after long use) and became more affordable. Axes were still used though, they were still cheaper than swords.
Armor changed a lot too. Technology for all types (mail and plate mainly) greatly advanced over the years to counter the advance of bow and impact warfare advancements. For those without heavy armor, the round shield was replaced with smaller shields that are easier to carry and in the case of the buckler can be used as a hand guard while you're using a pole weapon or a pike while you fight in formation..
Basically they're trying to mix all of that and create a somewhat "all medieval times battlefield" by balancing every weapon and try to make EVERY one of them a considered option. That's very hard because in reality, some weapons are just better than others (if the two fighters are clones of eachother) and those weapons which were objectively better with no obvious drawbacks from the other one were either more expensive or flat out replaced the other one
that's the case with full plate (at least until the end of the high middle ages), greatswords..
If you don't believe me, just go on Youtube, search for youtube channels like Skallagrim, Scholagladiatoria, I am Shad, Lindybeige..
So yea, we'll basically never see a proper balance of every weapons simply because it either requires illogical balancing like there is sometimes in the game right now
:-axes making more slashing damage than swords but no blunt damage
-two handed, huge mauls that seem to weight 2 kilos when handled and 10 when you hit someone
-piercing damage that's not capped (what does it mean when an arrow does 100 or 200 damage ? Does it penetrate 2 meters in ? At some points depth doesn't matter anymore, because the body isn't infinitely large)
- Armors having to be balanced while some were simply better than others but more expensive, but no one seems to think that's a valid option for a game
- Formation fighting vs Duel fighting difference not really be thought about
: in a 1v1, a horseman would be disadvantaged because the footman would be much more agile and could just cut the horse's throat or pull the rider from his saddle. That's kinda the case in the game but it's way too easy to ride over someone, especially because it seems horses have a neck of steel.
- Archers being designed to counter plated two handed people while in history the very reason why people used two handed weapons with armor is because, well, armor worked and kept them alive against what they needed the shield for
: arrows. In a world where only 2 cms of wood could stop any arrows and projectile but not cold steel, plates would be made out of wood.
... while this game is supposed to be a
realistic middle ages "semi-simulator" game.
So yea no wonder balance is gonna be a headache with this one.