Race Differences and Race Balance

[battlefinn]

Never played PS1. Are there major differences between the different races weapons and classes? Is it mostly cosmetic?

Ive watched a few videos on the official youtube channel. Ive seen that there are differences in the ships - faster, more armor, better control, etc.

Do the classes/weapons operate differently? I know VS shoots lasers and not bullets. Is there a difference in rate of fire, damage per shot, or accuracy? Is the jet pack different between races?

How does the game deal with Race imbalance? Is it just the 2 smaller races team up against the dominant race?

In PS1, was there a race that was severely overpopulated?

Thanks for any help. The game looks amazing!