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Apologies for being kinda flippant about this but given GW's current grasp of their own rule set I'm not exactly holding much hope for a functional marine army untill Codex Primaris copyright comes out with 9th edition.

Terminators as currently costed as if they have stacking 2+,5++ which is rediculous as that 5++ really never comes into play. Like how often do you see mass AP-4 or higher?

So its a T4 2W 2A marine with deep strike surprisingly reivers have a similar stat block Reivers with grav cost 20 points per model and are arguably overcosted at that so say they are 18 points so how much is that 2+ save instead of a 3+ save actually worth 2, 5, 6 or 7 points? As thats really all a terminator has over a reiver and as a bonus they get to walk slower.

Simply put they aren't worth anything like what they are currently costed at.

Terminators are costed for the value of giving a Chapter Master a Power Fist over a Chainsword, yet not getting the same differential value for getting the same Power Fist.

A Captain/CM with a Power Fist can do some real damage. Decent number of attacks. Character protection. The enemy has to chop through (overpriced) Tac bodies before they can start dinging his decent wound pool with a 3+/4++ base, and easy access to a 2+ and/or 3++.

A Termie is a 2W 2A model with only a WS3+. Even if they each enjoyed character protections, he's getting nowhere near that value.

Termies are a victim of a la Carte pricing of their wargear. Because 26ppm for a 2+/5++ 2W 2A S/T4 WS/BS3+ model isn't bad. But 40 for that with a PFist (on 2 attacks) and a Double-Bolter is bad.