It doesn't quite eliminate the effect of big numbers. Under this system, a 1st-level skirmisher will have a 16+Con HP, 15 AC and an attack at +6 vs. AC; a 5th-level skirmisher has 48+Con HP, a 25 AC and an attack at +15 vs. AC; and a 15th-level skirmisher will have 248+Con HP, a 44 AC and an attack at +35 vs. AC. The scaling is still very dramatic from one end of the scale to another, it's just that there are half as many jumps that are individually twice as steep.
1e Lolth had 66 hp and an AC that topped out at -10. Her 4e equivalent has 1268 hp total and an AC that tops out at the equivalent of -41. Making her 4e equivalent "17th level" but not changing any of the mechanics makes it semantically different, but still poses the same basic dynamics of scale.
Barastrondo hits the nail on the head here. It's not about how many steps it takes to get to the top; it's about how high up the top is. I would be perfectly fine with 4E's 30-level span if the power differential weren't so immense.
My main issue with epic is that it requires me to conjure up a legion of insanely powerful foes who were previously not in evidence. Now, I usually have a few epic-level critters lurking about my campaign worlds; an ancient dragon here, a lich there, a pit fiend buried and sleeping under the earth. But epic tier demands that I supply enough of those creatures to populate an entire tier's worth of combats!
A glance at their stats (regardless of what number is written in the "level" space, or whether the monster is called "pit fiend" or "orc warchief") makes it obvious that such a confluence of mighty monsters would be enough to bring the campaign world to its knees if not for the PCs. So why didn't they do it before the PCs showed up? Why has it taken them this long to put in an appearance?
I can come up with answers to those questions, but it requires taking the campaign in a whole new direction. In any campaign world that is not already stocked with a zillion epic monsters (in which case the PCs likely spent most of heroic tier hiding under rocks), epic tier is more or less restricted to a) an army of super-powerful monsters has emerged from centuries-long slumber or confinement, or b) the PCs are required to adventure in another plane where there is an army of super-powerful monsters, or c) the PCs are suddenly doing far less fighting than previously.
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