If you're primary interest in an RPG is gearing up, then I have to say that you'll be better off playing some sort of MMO.
Nevertheless, it is a part of the charm of TES games as well, and I agree that with the right skills you can gain access to the best items a bit too quickly. Unfortunately, the only way to remedy this situation is to not level those skills.
RPGs' primary draw is progression. You have character progression and story progression. A game with one and not the other will be weak. Bioware does an excellent job at storyline progression, whereas generally speaking, Bethesda does a great job at character progression. The exception to this I feel is Skyrim. The character progression specifically in Skyrim is extremely weak. You do get the best items with no possible upgrade extremely early on. You feel too powerful early on. Crafting makes exploration pointless from a character progression point of view. I like the idea that crafting gives you some of the best items, but the fact you do not need to work at it to achieve these items is sad. Customizing and making your own spells and gear is a great concept, but when the rare and unique gear is vastly inferior - huge huge issue.
I like not having a lot of limitations in TES, however the game feels like cheating playing it normally. Between the poor ai, overpowered skills, crafting system, and gear tier skipping - it makes combat less than satisfying and more importantly SUSTAINING. Like a good book, I should be wanting to finish the book - however with Skyrim I find myself kind of feeling like I beat the game well before I have completed everything. Keep in mind I am not ONLY after character progression, but the fact that character progression is so poor in Skyrim makes me just not really care about the storyline whatsoever.
I am very disappointed by this, but the game is fun while it lasts. I do not feel cheated, but it has room for a lot of improvement.