Number-wise, we would obviously lack nothing! 
But someone on Twitter has pointed out that IF Blizzard wanted to consolidate the Allied Races as templates we’d have a scenario where the Alliance has one less race on the main character creation screen due to the Vulpera using the Goblins skeleton without however being a Goblin sub-race.
Alliance Allied Races
-
Void Elf —> Thalassian Elf template
goes on the main screen since the core race belongs to the other faction - Kul Tiran —> Human template
- Lightforged —> Draenei template
- Dark Iron —> Dwarf template
- Mechagnome —> Gnome template
Alliance Total: 4 templates, 1 extra race from the other faction.
Horde Allied Races
-
Nightborne —> Night Elf template
goes on the main screen since the core race belongs to the other faction - Zandalari —> Troll template
- Highmountain —> Tauren template
- Mag’har —> Orc template
- Vulpera —> NOT a type of Goblin, hence main screen
Horde Total: 3 templates, 1 extra race from the other faction, 1 new race.
Personally I would not be bothered by it, but I can understand that it may ‘look bad’ or feel annoying to other people, hence I am afraid this might keep Blizzard from turning Allied Races into templates, at least for the time being.
Easily fixed the next time they add another couple of Allied Races, however - could be Gilgoblins vs something new on Ally side, for instance.
But as said before, the templates idea can still stand on its own feet regardless of the previous ARs being integrated at this time (or ever).