I like class systems in terms of encouraging cooperation and coordination, but VS's take on them has a lot of flaws.
For starters, some classes are just straight up better than others.
Hunter is strong early, late, and vs bosses.
Blackguard is weak early, vs bosses, and while they get significant bonuses to heavy armor and melee, I'd argue that performance is worse than hunter or commoner using chain and bows. Their unique gear is nice for iron age, but becomes obsolete later.
Tailor used to have the unique niche of making the best clothing, and a strong early-midgame option in tailored gambeson, but recent updates gave alternatives to similarly warm clothing.
Tailor and Malefactor both have some bonuses in accumulating rusty gears, which is an interesting playstyle but takes a while to pay off and I'd argue doesn't offset their downsides.
Clockmaker is weird. Saving a temporal gear here and there is low impact, and tamed locusts are mostly a gimmick.
Combat Overhaul makes a number of changes that help put classes are much more even footing, but in vanilla it's hard not to argue for either commoner or hunter, especially if you turn class recipes off. It also makes melee combat and shields much more useful.
In general, I don't think gear that doesn't matter lategame is a good perk for a class. Vanilla ranged combat is much stronger than melee combat at all phases of the game, but especially early on.
Xskills provides a cool amount of customization, but also has certain skills as vastly more useful and powerful. The lore value-add from the existing classes feels pretty minimal, and many of them don't play differently despite vastly different perks and penalties.
Summary:
Commoner: Good spot
Hunter: Good spot, and a good example of a class supporting a playstyle for the entire length of a world.
Malefactor: Needs an overhaul, perks are overwhelmingly early game focused. Stealth and looting focused gameplay could be a cool niche, but is not supported by perks or gear.
Blackguard: Could be in a good spot if plate armor and melee combat weren't both less effective and more resource intensive. The issue isn't with the class but with vanilla combat in VS.
Tailor: Needs an overhaul, weak early and then slides into irrelevancy.
Clockmaker: Needs an overhaul. Enormous thematic potential to make all sorts of cool automation parts, saving 1 of 3 temporal gears on a translocator is trivial, taming locusts is trivial. This class is perhaps the most disappointing because of how cool it could be, vs how mediocre it is in practice.