This. Its a complete waste. All of this could have been in sneak, or just not needed at all. they cut to try to get the biggest skill bang for their buck and they decide to make pickpocketing its own skill...pickpocketing. How dumb is that? Bring back H2H. This skill is the definition of false depth.
This to the 3rd power. Honestly most of the perks are things that should be the norm for pick pocketing with maybe 4ish perks that fit as perks. Which you could fit under stealth once you remove the that is what your skill should have done in the first place perks, or the hey this replaces agility aren't you glad attributes are gone and you can waste a perk on this now perks.
But out of those perk extra pockets is my favorite because I always seem to need more carrying capacity.