I think the FM bodyguards help counter the early-game lack of elites.
While there was an evolution in fighting styles across the EB period, the TW solution of "elites only appear from elite barracks in the biggest settlements" makes for good gamelplay (a gradual ramping up to sexier deadlier units) rather than good history.
So if you ask "where are my Spartans/Tarabostes/Kinsmen Cav/whatever on the first turn" the answer is "well you can't make any but your FM's have a few. Its not perfect but its acceptable.
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