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So, when ever I read about the various armies in 40k I always have this headcannon going on where each army fills a "slot". And that most units in that army are geared to making it fit that slot better, there are exceptions ppf course (there are always exceptions) with some units clearly not fitting the armies slot. But, for the most part units make the army good at one thing in particular.
For example; IG are average at just about everything being neither good or bad at most things, with getting the option to specialize in either mass infantry, really good vehicles, or war gear to make them competitive. The Space Marine on the other hand, are good at everything. Not great, but definitely good. Kinda like uber IG and they get really good war gear that either makes them great at range or great at melee and closing (drop pods). Then the Eldar are great at any one thing they want to be, but just that one thing. So, you have to take a large variety of units to remain competitive.
So, the three slots here are good all rounder, excellent all rounders, and over specialization. I know that sometimes more than one army will fill the same slot, and that the IG are not good all rounders, but; I feel almost as though the game intended them to be.

Thoughts?

I'm afraid I feel that the IG are individually less then average to what's out there in the galaxy. I believe this is supported by both fluff and crunch. The IG win through the acceptance of atrocious amounts casualties because losing millions in the first seconds of battle is nothing to the billions behind them and the billion upon bIllions coming in steadily. They either pour in more bodies then the enemy has ammo or eventually drown the enemy with their own blood. Nothing subtle about it but when birth rates exceeds ammo and gun production rates lives quickly become cheap.