The reason you see things like this is because a character that inevitably wins simply because the author says he can is incredibly dull. Magic is untethered from any non-arbitrary causality, and arbitrary causality can take tension only so far.
So a literary wizard who fails to demonstrate competence with Magic Type X is actually capable of Type X, he just doesn't feel like using it. Or alternately, he's capable of Type X, but he's never in a situation where Type X would be more useful than what he can already do. I really can't buy this analysis. It requires either a wizard so pigheaded that he'll use a hammer to turn a screw rather than reach for a screwdriver, or else one who miraculously never faces conflict for which his established shtick is not perfectly suited.
4e doesn't let the wizard do a lot of things he used to be able to do. Even with refluffing, some abilities that were bread-and-butter in earlier editions are simply gone- mind control, instant long-range teleportation, cheap scrying, instakill spells, polymorphs, and long-duration buffs, for a few. Some of these may reappear with specialist classes, and some may be gone forever. If none of them come back, I really won't shed any tears. If I want to play a god among men with unstoppable sorcerous powers, I'll reach for Ars Magica, which does a vastly better job of handling a game where Wizards Are Better. The fact that these powers are gone from my D&D is not a bug to me, it's a feature.
I'm sure some people will earnestly insist that they could have been kept if only WotC had been smarter about implementing them. That's nice, but it's possible to insist that a circle could have four sides if only you're smart enough about squaring it. It's the sort of thing that I'll believe when I see it.