It kind of makes sense, since it'd feel imbalanced if it improved earth and poison damage AND armor restoration, compared to pyrokinetic which just improves fire damage. It already feels like Geomancer is better than fire since it's a 5% poison bonus + restoration, where fire is just damage.
I don't entirely agree. The Pyrokinetics school only does fire damage, so the 5% per point applies to all damaging spells in the school. Geomancy does 3 things with magnitudes; poison, earth, and physical armor, and as-is only 2/3 of those are affected by points in Geomancy.
I do feel like the 5% on Pyrokinetics could be a touch better though. The weapon skills all get 5% damage and a little something extra per point. E.g. ranged has 5% damage and 1% crit, strictly more of an improvement. Although, this may be like comparing apples and oranges.