The thing is you can see that when compared to fighting types in combat mages are mismatched.

True, but that's what combat types are for - fighting. Wizards can still contribute in combat, even if there damage is lowish.

However, turn it around. A combat type can not compete with a mage in contests where magic is important. At all. they can't even contribute... Who do you turn to if you need to track down some magical spell/artifact/spirit... or you need some mystical portent read.. or the only way to get past the guard is to be invisible (bad examples I know but you get the idea).

Mages are not supposed to be able to compete with fighters in battle - and if you start looking to change the rules so they can, then you are likely going to short change those players who chose to play as a merc, or pit fighter.

As for cantrips - I tend to the College the mage belongs flavouoring how the cantrip looks etc. I don't think that cantrips should be as powerful as spells, or duplicate the effect of a spell... other than that if a player comes up with a good cantrip, then who am I to spoil their fun...

... though I don't allow magic to manipulate technology (eg locks), but then that's probably a throw back to my ShadowRun days