We study the equilibrium simplex of Nica-Pimsner algebras arising from product systems of finite rank on the free abelian semigroup. First we show that every equilibrium state has a convex decomposition into parts parametrized by ideals on the unit hypercube. Secondly we associate every gauge-invariant part to a sub-simplex of tracial states of the diagonal algebra. We show how this parametrization lifts to the full equilibrium simplices of non-infinite type. The finite rank entails an entropy theory for identifying the two critical inverse temperatures: (a) the least upper bound for existence of non finite-type equilibrium states, and (b) the least positive inverse temperature below which there are no equilibrium states at all. We show that the first one can be at most the strong entropy of the product system whereas the second is the infimum of the tracial entropies (modulo negative values). Thus phase transitions can happen only in-between these two critical points and possibly at zero temperature.
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