This is 100% true.
Unfortunately it doesn't tell the whole story. The second part is that unique items in general are garbage. Being the best garbage still means it's garbage.
It's not a good mage item compared to custom enchants at all.
Oh god please... I have Morrowind, Oblivion and Skyrim all installed. I'm making active comparisons - Morrowind had the most variety with everything - that was an EPIC game in many ways. Granted there were bugs - but hey, Bethesda + TES = Bugs

it's like peanut butter and jelly. But the major issues I have with Skyrim is the utter lack of variety.
Clothing - no variety + ugly = FAIL;
Few spells + no way to create your own = FAIL;
Quest lines are static + broken quest lines = FAIL.
Beth REALLY needs to release that modding tool ASAP so modders and myself can work some magic. I can only mod this game out so much without the modding tool. Until then, I'll be rifting along in Rift and then off to SWTOR. Something's got to give with all the money we, as a gaming community, are shelling out for these just passable for playing games...