The balance is there, maybe the vast difference in theme or your dislike for innate spellcasting is obscuring it? They have been meticulously balanced off of each other they werent just slapped together - however, this does not mean that their base power doesnt need to be toned down.

In regards to innate spellcasting, it /is/ a balance method an one i and several of my players enjoy. If you dont agree then so be it, but such is the nature of racial preference.

The stat changes vs. innate abilities, ribbons and utility is extremely deliberate. Contrary to your assumption i set out with a clear idea of theme based on my lore and found the pictures as i went. The Vasa are intended to be a brute force race designed for play by players who dont want to faff around and just want to smash their enemies in combat. The Atta and Simma have counterbalanced strengths to make up for the power of King's Strength which also match their themes. The note about being underwater for some things - well, you should note the function of each ability and the lore of the race and consider why exactly I forbid the traits in certain environs. In my massively aquatic setting this gives interesting decision making opportunities and unexpected chances to turn the tides of a fight.

For the Vasa i absolutely dont agree with lowering their ability increase, though I 100% agree with doing so with Vasa and Simma. As for you last comment, i am sorry you feel that way but it is untrue; i had clear themes that i worked with it wasnt a haphazard job like you imply. As for the Naga at the end, if you can think of an alternative asset for using for a great hulking serpent man, i am all ears as I do not like using widespread content for my own things as it interferes with my personal lore.