I was afraid of this, and hope it changes... QUICKLY. I tried the Wizard but quit after taking several hours to get to level 2 for the very same reason you mentioned compared to other classes being steam rollers out of the gate.
I really hope they give the wizard either a dramatically accelerated mana regen baked into the class (at lvl 1), dramatically increase their mana pool (like double), and/or give the wizard a cantrip" (mana free spell) that deals low damage (equivalent to a pet's auto attack), but maybe triggers out of combat mana regeneration. Otherwise, I fear that it's going to suck playing the wiz when the game is live because you're likely going to be solo more often than grouped at low levels because other DPS classes can simply offer way more in the way of sustained DPS (which is why you're invited to a group as DPS) and the wizard can't solo as well as ANY of the other DPS classes right now (to get high enough level to be as effective as other DPS classes to be "desired" in a group and not just "reluctantly allowed to be carried" by a group). From what I'm seeing, it would be much more fun to play the ENC (primary support) over the WIZ for any player that has never played EQ (doing wizard equivalent damage but knowing that you get mez and F'n charm later" - if you were looking to play a caster, you'd be crazy to play the WIZ over the ENC or SMNR based on the class and skill descriptions after playing the first few levels). "None can match the Wizard's raw potential for damage... once every 15 minutes... after about 40 levels of hell... and if you don't calculate the other casters having pets."
Fix it prior to level 10 VR :(
I'm having a lot of fun on my wizard. This post is a bit old so maybe it's changed since (?).
As of 9.26.24 I was able to keep good dps on constant pulls with a bit of downtime, but the instant abilities help me keep my focus in check. I can use cold focus as well to 'burn' when needed, and by the time by cold focus is depleted I've enough for a spark type.
I also always use my instant ability.
The burst DPS is really really cozy pre-10 wizzy, not sure what it's like after that yet.
Oh and on big mobs I use that 2 min buff to your spell caster level and get in a solid 60 damage before anyone else can do 40.