Magic is powerful, but it's supposed to be. And yes, there's ways to mitigate its strength and ways to make other types of characters just as valuable.
But yes, this is a setting and system where magic isn't supposed to be, "Oh, he's a wizard, that's just another way of doing theh same damage," but rather, "Uh oh, he's a wizard, if we don't handle this right he can nuke us." Think of Karrin's narration in Aftermath -- seeing Dresden in action is terrifying, and she's on his side.