So does that mean there's a daemonic chain of command? Sorceror is above daemon but below greater? Where do princes fit in the condescension hierarchy?
The daemon ranks go something like this from lowest to highest:
Unaligned creatures like Furies and lesser warp entities
Daemon beasts such as Seekers and Beasts of Nurgle
Lesser Daemons like Bloodletters
Heralds
Greater Daemons
Gods
Soul Grinders and Princes are somewhat off to the side of the hierarchy, not really fitting in properly.
Soul Grinders are viewed with differing opinions depending on which type of daemon does the viewing. Khorne daemons view Grinders with contempt for being beaten in combat and choosing to take the easy way back to war which leaves them slaves to someone other than Khorne.
Princes are something of a case by case thing, generally viewed as less than most daemons because they were once mortal but also sometimes bearing power and rank above most greater daemons. In general the average one seems to rank alongside Heralds, but some rank higher or lower, like Doombreed and Angron.
Khorne has a structure to his forces, with 8 bloodthirsters being commanded by him, who each command eight more bloodthirsters in turn and so on down through 8 ranks, the lowest rank of which commands the Heralds and Princes who command the war engines and lesser daemons.
It is unclear if the others have their own form of Khorne's daemonic legions or not, though Nurgle at the least likely has some form of hierarchy given how organised Plaguebearers are.