It's not that huge of an exaggeration. It's certainly simplified. But I'll offer an example that actually happened. Our party consisting of a rogue, warrior, bard, cleric/ranger and a wizard, all around level 12 had just landed on an island. Our DM had planned on us encountering a group of ogres, or some level appropriate monstrous humanoids. The wizard said "I'll scout ahead" and took the skies. He rolled decent on his spot, so he saw the group of monsters. He then flew above arrow range, and proceeded cast fireballs and the like at the monsters at the safety of 400 feet or so, killing all the monsters. Then he flew back and the rest of the party felt disappointed.
So, in summary, the wizard was effectively a F14, I, the bard, could summon a tiny hut and perhapses speak to animals, and the fighter could swing his sword three times if he held still.
Look, 3.x was a a good game, but frankly, it had flaws, the greatest of which focused around balance. Knowing what to do at character creation shouldn't be part of a game Game design tends to get better with time, and quite frankly I'm glad they figured it out that its not fun when someone is a F14 while the other people get to sit in the tiny hut.