Two question: Are the wealth-by-level guidelines being followed? And, is there a new rules sub-system to measure the player power, as described?
The Pirate Adventure Path has a sub-system specific to the story which tracks player power. That's not in the core rules, but added. That's fine to use, but its presence shows how the core rules are not sufficient.
About the wealth guidelines: Lots of folks will ignore those. If they are followed, a party of 4 can affort a sailing ship
maybe at 3'rd level, and a warship somewhere between 4'th and 5'th.
What the issue resolves to, for me, is whether the DM is tracking player power in a way that ties to player level. Then, as that reflects on the games rules, whether the rules encourage and provide examples of how to do so, or, are written in a limiting fashion.
My view is that 3.5E and 4E were written in a limiting fashion. Paizo has worked to overcome the limits, with background options, and the subsystems added to the adventure paths, but, still must live within the limits built into the game system. You
can go outside of the rules, but aren't (or weren't) encouraged to do so. Limited by the rules, players had little recourse except to gain power by leveling. Looking at 5E, the question remains: How well does the game facilitate external (non-level) measures of power (included in what I've been calling player state).
PC Wealth by Level
Level Wealth
2nd 900 gp
3rd 2,700 gp
4th 5,400 gp
5th 9,000 gp
6th 13,000 gp
7th 19,000 gp
8th 27,000 gp
9th 36,000 gp
10th 49,000 gp
Rowboat 50 gp
Keelboat 3,000 gp
Longship 10,000 gp
Sailing ship 10,000 gp
Warship 25,000 gp
Galley 30,000 gp
Thx!
TomB