In 3E, Wizards had more spells on a long-term basis. However, Sorcerers had more spells per day and much more flexibility during the adventuring day since they had almost as many spells known per level as Wizards had spell slots.
In 5E, Wizards have more spells on a long-term basis, and they have more spells available per day than Sorcerers. It's also uncertain whether Sorcerers have more spells per day than the Wizard, since the Wizard has an additional 1/2*level spell slots. Sorcerers might have some way to get more spell slots and get metamagic, but can it offset the losses in flexibility and the other goodies Wizards get? I don't think so. The 5E Sorcerer spells known look so restrictive -- less than 2 spells per spell level and you're stuck with them until you level.