Which many of us considers a flaw in the sorcerer design.
Effectively this argument is saying that the only thing that keeps the sorcerer cool is denying stuff to other classes.
I would much prefer if every class is cool on its own, and didn't get its unique schtick from putting its boot on the throat of others.
High-level Wizards should definitely be able to bend or break some or all of 5E's limitations on magic. The sorcerer will have to get another claim to fame, because "I'm the only one who gets to break the harsh limits on magic" is unacceptable in D&D.
As proof I give you the coolest high-level NPCs that already do that. They have legendary actions and saves. They even have special exceptions (such as more spell slots).
While the RAW is fine for most of the game, it becomes boringly constricting once play enters Tier IV.
Zapp
PS. If that makes you counter with the argument "but if Wizards get cool stuff at levels 17+, so should Fighters and other classes too!"...
... then you would get no objection from me!

I absolutely agree, as long as you don't pull off the inverted argument "since Fighters don't get cool stuff, Wizards should not get cool stuff either!"
This is balderdash - of course Archmages should have much more tricks up their sleeves than the outright anemic NPC stat block suggests!
(The Archmage NPC stat block is fine for the purpose of offering up a quick and simple stat block during single-digit level play, where an Archmage outlevels the party by a significant margin, and where having to fight one would likely indicate the party did something wrong at an earlier turn.
Once a Wizard with level 9 spells becomes an "level-appropriate threat", you need more from a stat block if that creature is to look and feel archmagey even a little. Unless you're cool with having "archmages" as dime a dozen henchmen opponents, who cast one spell and then die)