(Semi-edit but as two hours have passed I’ll make it a separate post.)
I also think it’s quite a flavorful ability. They could have just given every camel unit +5 or maybe +10 HP, but this stands out more. This is cool. “Yeah, look at my regenerating super-camels. Not even the Saracens or Indians have those!”
I also feel like not every unique technology needs to bring the same value, just as not every unique unit or other bonus needs to bring the same value. Conquistadors and Mangudai are much more important to the success of their civilizations than most other unique units. It’s fine as the overall balance is fine and as long as there is a reasonable case for its use. That’s where elephant archers draw all their critique: it’s not that you rarely have a reason to make them, it’s that you basically never have a reason to make them. (And it’s hard to fix because the unit just doesn’t fit the current meta very well, boosted stats or not.)
Maghrabi Camels is probably a bit expensive for what it does, but I feel that if you’re going heavy on the camel archers specifically it can be worth it. Cavalry archer units in general are meant for keeping alive and massing up over longer times. Do a raid here, retreat to a castle there, have some cavalier die in front every now and then. This technology helps keep a bit more of your mass alive. Not a big game winner maybe, but it can pay off in the long run. It’s fine if some abilities are dwarven stonecunning rather than extra attack*. If the civ was underperforming I agree that buffing up this unique technology could be a good way to help the civ as a whole. I just don’t feel like that’s the case at this point.
*= (If you got (or made) that reference you’re probably almost as big a nerd as someone who discusses the balance of a 20 year old RTS title online. You’re also just as big a nerd as someone who discusses the balance of a 20 year old RTS title online just for being here.)