Which is why we have this?
"After the holidays, we’ll continue to release regular updates for the game — through full title updates, as well as incremental “gameplay updates” to fix whatever issues come up along with rebalancing portions of the game for difficulty or exploits. We plan on having a lot of these, not just a few. "
And where has Bethesda said enchanting/smithing is an exploit? Was it just pure coincidence that each fortify skill can be applied to no more than 4 items with a 25% magnitude on each, or that the alchemy/enchanting loop has a cap on it?
Exploits and difficulty issues are like the Ogma bug that grants unlimited XP, or the fact that every dungeon is full of creatures that die in 1 blow except for a single enemy that can kill the player in 2 swings.
I could be wrong, but it just seems highly unlikely to me that everyone at bethesda had no idea of the power of alchemy/enchanting/smithing when they released the game.