A Level 20 character will then earn 44 skill points (49 if we count the 5 at creation). Shouldn't a level 20 character be masterful? But consider making a Master Thief: 5 in Pick Locks Pick Pocket and Stealth. It would take just about every point available with very little left over to make the character say charming or lucky or a passing archer or anything else really and this doesn't even address 'Way of the Ranger' that you'll want so you can learn charm, silence and other tricks.
You may have a point.
Pickpocketing could be rolled into Stealth and use its point value instead of being a separate ability, but that doesn't address all the possible issues.
Don't even dream of making an Archmage type character: all 4 magic skills, plus Lore, plus Willpower, plus Sourcery. Just getting those seven skills to level four would take 70 skill points! (Hope you didn't also want to make the occasional potion because you certainly don't have points for crafting)
You couldn't make an archmage character before either. Each ability requires 15 points, and in the last patch you could only get a maximum of 62.
I don't think that Larian wants players to be able to max out everything like in the Elder Scrolls series. I believe that this is why you have multiple companions and henchmen, and will be able to switch them around - to help full in gaps in your character's build.
Otherwise, items with +[Ability] will become quite valuable.
