Fair assessment. But what's the best way to tally this up? How many special powers would "being a swarm" be worth? Or should each insect be build individually with their being some required number to create a swarm?
Single "Automaton" - same stats
Fly (+1) | Hover (+1) | Untargetable (+?) | Engulf (+1) | "Some ability to state that they are a swam of insects - although this doesn't have impact on mechanics anymore" (+?)
Swarm - Individual (x,000 number); bare minimum stats; essentially the number of them would be sufficient to allow for the number of attack throws and that would probabilistically ensure a base damage. Individual insects can be targeted by attacks that ensure hits and chains. They would essentially attack as an army so damage would be a lot higher, wouldn't it? But costs would be appropriately insane
Fly (+1) | Hover (+1) | "Some ability allowing them to size of a locust and an appropriate penalty to see/hit" (+2)