Difficult question. While dividing the Colonies up has great potential, it remains to be seen whether that can lead to fun, dynamic realms. Although eight or so realms will lead to greater opportunities for many more people, joining a realm of five or so nobles isn't going to be as exciting as finding a bigger realm on another continent.
Of course, perhaps the best medicine would be to finally see the empire plan put into action. Efforts have been made in-game to achieve it for 9-10 months now but the Colonies still isn't quite there yet.
