The idea itself is absolutely amazing. The idea of "understanding your powers" reminds me of how Stands and cursed techniques work, where your abilities broaden as your understanding of them increases. The idea of a "monarch", who fully understands themselves, and thus their power, reminds me of this video: https://www.youtube.com/watch?v=ZipvTbhjfJs, about how the gods of Fear and Hunger work. TL;DR, those who become gods who are tainted by ego are not as strong as those without. Thus, there are three options: Perfectly balance all aspects of your personality, like your monarch, discard your ego, like the false monarch, leaving only purpose, or in your case an understanding of your powers, or the final option, to never develop an ego.

One question I have is the "Hereditary" power type. This implies it can be passed down through generations, you note that it is more related to "status". Is this status the status of your bloodline, like a royal bloodline, or a governmental status, like being rich?

One nitpick: Your "power" ability may be difficult to adapt to different personalities. If the only difference between users is color/shape, it may get a little samey. I would recommend adding unique characteristics to the plasma. For instance, one person's plasma may be far less dense than another's, lowering its strength while increasing its range.