No benefit from binding multiple airs or water. As for critters instead of lords I don't recall that in particular but it isn't a bug, just a bit of randomness.
Well in that case you are correct. I didn't quite understand that what you were getting was a non commander version of the lord. There is a cap on the number of leaders as well as the number of units. The game is old and was originally developed on much much slower computers, so there are a few of those limits like that in the game.