Not quite, because the stick could still be smithed to Legendary.

More seriously, if you don't use Enchanting to zero magicka costs you'll run out of magicka against a single regular opponent, which is stupid on the face of it when you can use a bow to one-shot the same opponent without expending any stamina at all. If Destruction spells scaled this wouldn't really be an issue, but unfortunately they don't.
Whether or not Impact makes up for it is debatable, since even though it gives you the ability to stun-lock at range you still need to be able to maintain said lock, which requires use of Enchanting to reduce spell costs to the point where you can actually do that.

lol
Ok here is the thing you should not have to have enchanting to make magic viable and you pretty much have to as a master spells and expert spells take a lot of magic.
In saying that we still lack the options the other spells coupled with spell creation offered.
Also we should use enchanting to supplement magic but we have to have it that is not good.
As far as impact goes that farther cheapens the magicka system. Impact should be percentile based you should have a 15 percent chance to stagger them or something like that.
Then we would have to worry about how pathetic destruction damage is.
Spell creation could fix that.
Bring back the old spells that we lost.
Give us back spell creation.
That opens up our options, its not like nobody in the universe uses spell creation its still very used and practiced.