Nope. It's weaker than the Warlock.
The aim of this class was literally to make a spellcaster that plays nicely with an unoptimized PHB Fighter. It still gets some nice tricks (flying, large elementals, water breathing, healing, temp hp, teleportation) but they are so reigned in and manageable that everything looks pretty good (especially as the mage can't muster more damage than a 10d6 blast).