If we play PHB only, there's nothing a first level sorcerer can do that a wizard cannot do ON TOP of doing many more additional things.
1st level is not a great place to compare, as Raging Barbarian FTW since DMG reduction is huge at that point and becomes increasingly obsolescent as one advances and Monster attacks become magic infused.
A 1st level dragon Sorc gets a free Mage Armor via scales and Extra HP, which a Wizard cannot do, which refutes your point above.
The new UA ability further gives the Sorc an at will, ( Sorcery points required), False Life, which exacerbates the 1st lvl Sorc survives, the Wizard dies and rolls a new character syndrome.
False Life as written, is not quite good enough to select as one of your 6 first level Wiz spells at character creation, especially not over a Ritual spell.
A 1st level Wild Magic Sorc gets
easy Advantage on rolls, and with Bend Luck later the ability to make spells actually effective. (Especially with Heightened Spell Metamagic).
Bounded Math means spells get resisted, often, and frequently on the round cast, and very quickly thereafter if the 1st ability Check....or so called 5e ‘Saving Throw’ is made on the subsequent rounds.
The self directed ability to make spells ‘stick’, as it were, is rather potent, and not easy for the Wizard to do.
The Twinned Spell Metamagic allows a 3rd level Sorc with Charm Person to emulate the 10th level Enchanter ability of Split Enchantment for 1 Sorc point.
Also, let’s face it, at 3rd level a Twinned Ice Knife is like Richard Roundtree....sexy and a bad mofo!
Font of Magic, moreover, is already an ability, that can be used to convert unused spells into potentially more permanent forms like Glyphs of Warding....in a campaign setting where the player has a home base, (Say the Trollskull Tavern in the Waterdeep Adventures) this could easily justify a 2 level dip into Sorc.
A 5e Wizard uses magic, but a 5e Sorc is Magic....and the UA additions, while being cool and flavorful only drive that point home further. If being a Sage is not a Wizard trope, as some seem to be asserting in this thread, then surely a Wizard should be a master of magic.
Yet in 5e, Magic casting by classes with D8+ Hit Dice is just as good, with better class abilities added in.....why chose a lower hp class, when one can often do the same with a class that has more HP.
Ron, Harry, Hermione, Snape, Dumbledore, Tom Riddle....they were suckers going to Hogswarts and studying for OWLs......they should have Tuned in, Dropped out and became Sorcerers and cast Avada Kedavra Heightened or Twinned.