Yes, agreed, the game has too many skills and not enough XP for them. Look at Magi of Hermes, most of the characters have at least one, if not more, purchases of virtues that grant XP for the character concepts. Most people when making their PC's want to give them neat abilities, not just boring things like 50xp to round out their concept.
Ars Magica very simulationist, and even then, yet a Poor Knight character will barely have the XP to their job at all. The knight companion in the core book, has Wealthy and barely enough XP to make a 25 year old character competent enough to be fun to play.
If you want more epic play, you have many options not limited to:
- (1) More XP at character creation
- (2) More virtue points at character creation
- (3) More XP awarded in session
- (4) Collapse social skills i.e. Bargain and Charm, Etiquette and Intrigue etc
Worse, Ars Magica characters start with a very weak Characteristic set compared to D&D's standard 15,14,13,12,10,8 array. This is +2,+2,+1+1,0,-1 for six character, or a net +5 out of 6. Ars Magica starts you with +5 out of 8 if you do +2 +2 +1, and only +7 out of 8 if ou give your character +1 in 7 characteristics. Frankly, that is rather lame and boring. Worse, few options like in D&D to increase characteristics with weapons or enchanted items, only very expensive rituals.
At the same time, Ars Magica is predicated on the NPC's not changing the status quo of Medieval Europe. This is a critical factor in the game design. Even then, well designed PC's will shake things up easily.
If you want more epic play, change the rules to your taste for your game.