On top of anything above from months ago, I feel like the Royal Elephant isnt playing into its take role well enough so here’s the rub that makes you want to kill it first.
Elephant has an aura that will cause half of non contact damage to redirect to them. This damage will account for bonus damage even if the target wasnt weak to it. Only the absolute closest within 8 range of the target will redirect. It doesnt effect buildings!
Let me explain: lets say yout neighboring swordsman gets hit by a Kamayuk. For sake of argument we’ll pretend this unit counts as ranged even though it doesnt.
The elite kamayuk FU does 12 damage and vs a champion it would do 8. In this scenario the damage is halved to 6 THEN the FU champions armor reduces this to 2. As for the Royal Elephant… hes going to take 6 + 10 elephant bonus and 6 cavalry bonus damage even though he has none of those armor types. And those are applied BEFORE armor so with 3/2 some cav armor and elephant bonus armor you will … not be taking a lot of damage in this scenario. Meanwhile if the Kamayuk directly attacked the elephant it would be taking way more damage per hit.
You will reduce bonus damages but not TAKE them if the unit is vulnerable but the elephant isnt. So lets say your ram takes a direct SO shot which does 75 +12 siege weapon damage +3 from negative melee armor. This means… normally a direct hit SO should do 90 damage to a ram. However… cutting the damage in half means the ram will take 47 damage (38 from the halved base 6 from the halved siege bonus and +3 because armor is applied last regardless even when negative) while in turn the Royal Elephant will take 38 damage before armor. And if the SO does splash you can bet there will be no dead Arbalests and all the splash will still go to the elephant or elephants if multiple nearby.
It satill slow and very conversion vulnerable
No idea if this unit is fair however it does encourage direct attacks upon the elephants as the way to go to avoid armor based reduction shenanigans. And a few monks which you dont have Faith OR heresy to prevent will go a long way