Hussar
Legend
That's probably true, but the powers that seemed to be most in question are the ones that "steal" other classes spot light (Unseen Servant as cheap trap detector, Knock to remove open lock) - or that are simply not nerfed in these ways. The Save or Die spells for example. (Regarding Hold Person: where there coup-de-grace mechanics in 2e against victims of hold person? If not, Hold Person/Monster still seems more powerful...)
Hold Person in 2e was absolutely vile. It lasted tens of minutes and you can kill any helpless person in one round in 2e. Casted against a single target, they got a -4 on their saves to boot.
Ultimate party killing spell.
Hell, Sleep had no saving throw, affected 2d4 hit dice worth of targets up to 4+1 hit dice and a casting time of 1 segment. Nice having a 1st level death spell.

The balancing factor here, of course, was the fact that you couldn't craft scrolls easily (at least until about 6th level for clerics, I forget for wizards - 9th?) and you have very, very few spell slots per day. Add to this very slow leveling in 2e (no xp for gp) and you were generally playing wizards from 1st to about 10th most of the time.
It does work, after a fashion. But, it also tends to mean that wizards spend a lot of time watching fights, particularly at lower levels.