Incorrect. 100% camouflage is far easier to achieve and infinitely more powerful.
You can still get this effect in Skyrim (Or near enough to be a negligible difference) by using enchanting+alchemy+sneak. My test was to steal everything in Whiterun (Including things in pockets, equipped weapons, and whatever people were wearing), then stab(chop?) all of them directly in the face with an ax until they died (Some took several dozen attacks), I didn't come anywhere near getting detected.
Conclusion: The new system is in fact
more broken than the old one, as you don't even need the imba spells to one-shot everything in the game while being immortal and/or undetectable.
As an argument against spellmaking, it falls way short, as it'd be easy to limit specific magical effects to have hard-caps.