Having spell customization doesn't kill the game, there are still 80 different spells which can can probably be found combined with different spells, possibly. Like lighting combined with turn undead(just a guess) could be bought from a mage trainer. There will probably still be a great variety of spells, but no broken spells. Its a good thing.
I speak in my opinion, you speak in your opinion.
And for me it does kill the game. I like making spells that are quirky and that they have not put into the game. And the new system is no excuse for removing it, they could easily keep the spell creation aspect. Sure a firespell might have a few different effects. Well those effects damage will be based on its base damage. It doesn't make sense to remove the system.
And no broken spells? I assume you mean exploits. There are easier way to fix exploits.
Alchemy was broken in Morrowind (but it was still fun) but they didn't remove it.
There is nothing unbiased about an opinion. Not mine or yours.