Well, that's true in principle, but the only real loss is not being able to apply quite as much metamagic as you can with 9 spell levels. If all you want is a blaster in armor, PF already has plenty of ways for spellcasters to wear heavier armor without incurring much (or any) penalties. If you don't like magus, you can always make it a sorcerer archetype or bloodline.
It's hardly any easier with this many considerations. By the time you decide how to change/balance everything, you would have made 3 archetypes which work just fine.