There is something about Balthazar that needs some explenation, regarding some events in both guild wars 2 and 1 so spoiler alert
so where do i start... in the beginning before the events of even guild wars 1, the gods were forced to leave tyria behind since the war between them and abaddon, even though they won. this was to prevent further possible damage to the world. but (correct me if im wrong but it is nowhere said that the gods had to flee from the eldar dragons and therefore abbandon the world like it was nothing) as balthazar himself said in the pof story of guild wars 2 "i do not avoid conflict! I AM conflict", he chose to remain and wanted to fight the elder dragons (maybe because in his eyes they ment a threat to the human race, since he himself conquered Tyria for the humans) but the other gods (probably) knew that:
1. he alone was too weak to stand a chance the elder dragons on his own
2. the destruction of the elder dragons ment the end of tyria, the doom of the planet
so for tyrias and his own safeties sake, they imprisoned him in the mists. not sure when this happened, since the game doesnt deliver the infromation, i would say it is around the time, the events of guild wars 1 started to happen (correct me if im wrong in any case). if this is indeed the case, then the following wouldnt make much sense.
before the final battle of nightfall where the heroes defeat adabbon, kormir is given a blessing of all 5 gods, with which she is able to absorb his magic and ascend to godhood. but if we where to assume that balthazar was already imprisoned durring that time, what was that avatar of balthazar?
the missing point in the history of the gods is when exactly did he got banished from the gods and imprisoned to the mists?
there is a thing that kinda doesnt make sense too, that i might have missed.
the timestemp says that the gods left since the imprisonment of abaddon in the realm of torment, which happend way before gw1. in this case Balthazars action wouldnt realy make much sense
The pof story says, that the gods saw a war against the elder dragons as extreme calamity to the world and chose to flee, in this scenario it would make sense that balthazar went mental when the gods left the world, since he saw it as an act of cowardess, but he got himself imprisoned in the mists (no special realm mentioned). this event would happen shortly after the abaddons death, since his death would start the cycle of destuction and awaken the elder dragons, primordus first. this would make much more sense
so if we go with the timestemps durring the events of guild wars 1 there where only 4 true gods (dwayna,grenth,melandru,lyssa), since he was stripped of his title early, and the avatar of balthazar being there would be a mistake or an imposter.
if we would go with the pof story and kormirs story telling, then all would make sense, since his fall from grace would happen between guild wars 1 and guild wars 2.
hope i didnt make it to complicatet for you guys. if i missed something feel free to correct me