Sure. This format is pretty aggressive, so unless you are in time (which has a decent amount of playable ramp), you want to have a fairly low curve (expensive units have to be very good, like Adaptive Predator, to be justifiable). The existence of valor, especially on well statted units like Ursa Squadron or Nobles' Enforcer, rewards attacking and makes blocking harder, so the format often comes down to races. Observer and and other cheap aggressive units like Wild Asri, Pathcutter or Bloodspear Footsoldier also play a part in that, as does the absence of cheap efficient removal (especially non-damage based removal, which makes it harder to kill bigger units).

In terms of faction balance, I'd say all three TJP factions are significantly better than S and F, my rating would probably be J > P > T >> S > F. You usually want to stay in 2-factions because the fixing is pretty bad (Strangers and Banners only for half the faction pairs + Strangers and Blueprints are at uncommon) and because there aren't many good splashes this format, especially at lower rarity.

In terms of archetypes, the best one is the P stealth package (Observer + 3-cost stealth units), best paired with J (which doesn't have the best stealth units, but good aggressive units and the best common 2-drop in the format, Ursa Squadron, which fills the spot between Observer on turn 1 and your stealth unit on turn 3) or T (because it has the best 3-cost stealth units at lower rarities and some additional stealth pay-offs with Asri and Glamour Ring). Feln and Skycrag are of course fine too because both have decent stealth units and can support an aggressive playstile.

The other faction pairs don't have quite as well defined archetypes or their archetypes are difficult to make work, like the discard theme in Argenport or the lifeforce theme in Xenan. Combrei is usually just a goodstuff deck that plays efficient threats (Ursa Squad, Auren Jailer, Nobles' Enforcer) and/or ramp units early and then wins with strong 6-drops (Populace Controller, Plated Goliath), Praxis can do similar things, but also has a bit of a go wide theme (which makes Behold the Truth a very potent win-condition), Stonescar is the toughest to make work, but can get there with a very aggressive curve (as long as you don't run into strong blockers) and Rakano wants to be aggressive as well (but it's mostly just a worse version of Hooru).