I think Spain is more a religious warmonger than a colonizer, and it is a very weak civ in general. Said that, I don't think Portugal would be a design overlap with Spain. With England/Victoria, perhaps, but I think they can make Portugal sufficiently distinct from England given that most of England's colonizing abilities are with Victoria, while England itself is an industrialist.
I brought it up earlier in the thread, but I think the issue would be distinguishing Portual in terms of their overseas trade bonus in contrast to Spain's Treasure Fleet effect, which provides them an economic focus and a desire to pursue land on other continent.
If you can find an effect that encourages them to go overseas that isn't covered by the other historical colonial powers and build them an economic effect that circumvents the host of trade bonuses possessed by Spain and myriad other Civs in the game, I have no actual beef with Portugal.
Speaking of Spain and Georgia, I'm still hoping we get some more updates to Civs. Maybe not so oddly enough, most of the ones I have issues with have ties to the religion system: Spain, India, Khmer, Georgia, Kongo.
I just think Philip and Tamar could use some help in getting religions of their own. If they can get that rolling, I feel like most of their other effects would be more applicable. Maybe tweak the Conquistator and make the Tsikhe show up earlier?
I'm actually a bit baffled that the Khmer didn't get reworked when Gathering Storm was released or in the updates that followed. With how iconic their waterways are, I'm still surprised that their abilities weren't updated to accommodate the Canal district. Their Holy Site bonus is usually at odds with how you want to place them, Tall is not incredibly well supported, and the Relic system is all kinds of wonky. So I think they could be greatly improved.
The GS buffs for India are welcome, but I still think more could be done with their leaders. Diplomatic Favor was introduced with the return of the World Congress, so I was actually expecting Gandhi to get some kind of Diplomatic. As for Chandragupta, I don't like the Leaders from Rise and Fall that work off of a single Casus Belli, they're usually super narrow effects and often don't work with the other uniques of the Civ. He's less narrow compared to Tamar or Robert, but having just one domestic effect for Chandragupta to support him between conquests and accrue value over time would make me a lot more willing to play with him.