Honestly, putting everything else aside, here is how the factions actually work. Terran Republic: Basically they have large clip sizes, rapid fire guns, and fast moving vehicles. They get to play COD with vehicles. Vanu Sovereignty : They have high-tech stuff to make things easier and go more smoothly. Basically they play Halo. New Conglomerate: They have high-damage weapons and tanky vehicles and make strong explosions so they can hit hard and be hit hard which lets them create the chaos of a battlefield. They are the only faction that actually plays Planetside 2. NC FTW
Let's face it. SOE is balancing the factions to the point where the only thing different about them is their camo skins.
The difference is BF4 doesn't try to pretend that the different factions are supposed to be different. PS2 does.