I very much enjoy my Daemons; they are certainly more easily made into competitive lists than my CSM.
With 4 Gods, Daemons are nearly 4 different armies that play radically different--to say nothing of whether you go with big, tough beasties or go for a foot soldier horde.
Be forewarned that they are generally quite fragile, on the game board, and lack much in the way of shooting. Also, they have some randomness that can be very frustrating: a bad Warp Storm roll can take away a lot of your chances of winning, whereas a good one can tilt the tide far in your favor (incentive to get Fateweaver, since as your Warlord, he lets you reroll Warp Storm results). Those are the downsides.
The upsides: A great deal of variety, easy to field in large numbers (to counterbalance the fragility); some brutal combat characters; God benefits like universal Slaaneshi Rending, universal Nurgle Shrouding; some crazy buffs and psychic powers you can combo together to make your units tough; and the ability to field some psychic phase domination.
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