Yes, and conversely just because people found a way to make melee overpowered doesn't make magic fine.
The reason why magic is and remains gimpy:
1. You simply cannot ever have enough magicka to kill tougher enemies without using enchantment to break the magicka system alltogether.
2. Unlocking more powerful offensive spells is not at all rewarding, because their magicka-efficiency goes down, not up.
3. Crowd Control only works on stuff that's not worth controlling in the first place.
4. The damage from magic simply doesn't scale, there are no perks that seriously increase it, it doesn't go up with skills, there are no enchantments that increase it...
All those things + Levelscaling makes magic gimpy, whether you like it or not.
I'd like to thank you for your reasonable reply, keeping me from having to type out the same thing in no doubt a less concise way =)
So I'll just add to it a little.
1 - I don't like breaking the system either. It's cool for a minute, but if I wanted unlimited magicka I have console commands.
3 - Not to mention there isn't that much crowd control to begin with. For a example, there is no classical freeze-the-enemy control spell (Not counting low health destruction talent that defeats the point), cutting down on options in approaching a combat scenario.
4 - As many others have noted, it seems like spell crafting would help this, and other problems. I never got into it in earlier games, so I just have to speculate =\