This manga depicts reality, no magic pure gore and huge tits, so expect those peasants dead.
I really like it when there is no magic and only justified Wrath of God.
Reality would have some of those peasants dead, sure, but otherwise hale and healthy peasants fighting against bandits who have to scavenge off the land and only have comparatively good gear by comparison? Yeah, no, they could still quite easily win with just the peasants alone, let alone the 20 elites under Faust or the royal guard's heavily armored knights. You drastically underestimate the power of a simple peasant spear force, or peasant archer force.
EDIT: To the dumbass who gave me a strike: we're not talking one vs. one, where any given peasant obviously would lose. We're talking massed army units. Peasant pikemen routinely defeated cavalry of all forms simply because of their pikes, with no or little formal training. Similarly, militia spearmen units routinely succeeded in engagements with more formally trained soldiers simply because of their spears and other improvised polearms giving them an edge in range over their enemies' swords or axes, especially with the ability of the second and third rows to attack past the first row and assist in fending off enemies. Peasant militia's greatest problem was historically due to morale and their light armour, meaning that archers could decimate them easily enough if focused on (but rarely were due to targets with higher importance) in the latter case, and that they might break in the face of a cavalry charge in the former case (and if low enough due to maltreatment, even an enemy infantry charge could cause them to scatter). If they stand their ground in any meaningful number, though, they are pretty much guarenteed to decimate the cavalry instead, and enemy infantry will be repelled with minimal casualties; yes, even from untrained peasants.