The Merchant Republic was definitely added in as a flavor style for Venice/Genoa and Lubeck to a lesser extent. Really you could've fit them easily as oligarchic republics with trade and naval NIs. It's just something extra to play around with.
Especially given that the Aristocrat faction grants sailors now, it really doesn't fit Novgorod and it never really did. Trade was certainly important to Novgorod, but it wasn't the central feature. The government wasn't even entirely electoral. The possadnik and veche were powerful, but that is true of any important medieval city. The Kniaz (usually selected from a Russian principality) and the boyars were important and in some sources it appears the Archbishop is the actual political authority.
Nothing in Novgorod's poorly recorded and tumultuous history however indicates similarity to maritime city-state republics of Europe.
Especially given that the Aristocrat faction grants sailors now, it really doesn't fit Novgorod and it never really did. Trade was certainly important to Novgorod, but it wasn't the central feature. The government wasn't even entirely electoral. The possadnik and veche were powerful, but that is true of any important medieval city. The Kniaz (usually selected from a Russian principality) and the boyars were important and in some sources it appears the Archbishop is the actual political authority.
Nothing in Novgorod's poorly recorded and tumultuous history however indicates similarity to maritime city-state republics of Europe.