Open Lock was the magic user's answer to locked doors, but now everyone is forced to use the lockpicking skill, even if it is hilariously out of character to do so.
Why should magic users be able to do everything else? Denying it to magic users make the thief arch class seem more valuable. Afaik, opening locks are no longer even required to progress the game, so it isn't a "must have".
Magic has been made so consequence-less in the past it wasn't even fun to play it. With the introduction of regen there is no apparent "cost" of "performing magic". You pay like a one time fee of 200 gold to learn an unlock spell, in a game where you can make gazillions and the rest of your choices doesn't matter at all.
Currently, I feel it balances out quite nicely. If the game was better in other areas, I wouldn't object. Like:
1) Reduced regen potential over time (casting wrt magicka), but you regain max potential ONLY from sleep or maybe just a few "magical outlets" (2-5 in Skyrim total).
2) Potions take time (quite a bit) to work, and doesn't stack.
3) Potions (all equipment, really) are harder to come by in dungeons and stores, especially on higher difficulties or some hardcoe mode.
4) More random distribution wrt what content are found in loot. Just about everywhere I find the same stuff. Why are there no dungeons at all with no potions at all, but rather a big surplus of picks?
If it can make you think twice before doing it, that's when I enjoy the game. Your actions have both positives and negative outcomes, making you more conscious about what you do. Think mages from Realms of Arkania; they could only cast like 5-10 spells per day.
The same goes equally for lockpicks and that area of the game. I'm level 30 something with a huge stockpile of lockpicks and can open anything with no thought or consideration whatsoever. The skill climb everytime I struggle a bit with a lock, but I haven't spent a single perk in it. I want to be forced to make a choice - "do I really want to try to open this novice lock at this stage of the dungeon when I only have 2-5 picks left"? Somewhere in the lockpicking tree there should be a perk that enables you to find and buy more picks, and have lockpicking fairly difficult unless you specifically chose that path (just like magic is pretty difficult unless you perk it up). I didn't choose that path by putting perks in it, but I still want to enjoy that part of the game - and yet I rock in the skill. What happened to "auto attempt" where at least I could break some picks depending on character skill? Am I actually required, in computer age, to rely on own dices to see how many picks I have to deliberately break to make some sense of it all?
If you're a "modern player", then some of this may sound like some "tedious chore" type of thing. But at least that tediousness is part of the penalty when you go "I absolutely must do this". Do you do it and face the tediousness, or do you skip it as a counterweight? Now the cost is that your choice have a felt consequence.