Start from the ground up.
Things that need addresing as a priority;
playing with your collection, at whatever level. Ranging from playing a lone dragon/monster against a band of heroes, to a full army on army combat. You shouldn't be forced to have a 1500pt army (often 50+ models) to simply use your centrepiece dragon you got for xmas.
Similarly, such creatures shouldn't be paper weak.
Magic shoudn't be binary. Armies which are noted as being excessively good at magic should be capable at it, but i'd rather it turned into giving someone a more powerful spell. There is little different between level 1 and 2 or 3 and 4, respectively, so remove those. Have level 1 and 2, with level 3 reserved for your monstrously powerful spellcasters like Nagash, Kairos etc.
Allies, Scrolls of Binding and Summoning spells are all fantatic.
3 dimensional combat, by introducing flying deployment/warp breaches or summons, removing the overpowered nature of combat without turning shooting into a gunline extravaganza (dwarf, elf and empire gunlines being incredibly boring to play both with and against).
Steadfast was a neat idea, just poorly handled. Infantry fucking sucked before. Now, they were roughly capable. Early 8th edition, it wasn't so bad; orcs, skeletons , empire spears, and overpriced ghouls with the oddblack orc, tomb guard greatsword, or wight block for damage resulted in rough baalnce.
Then, daemons, warriors of chaos, lizardmen, elves of all variants, whose resultant abilities and stats just made lightly roughtly balanced units completely worthless in result of white lions, halberd warriors and eternal guard.
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