They have powerful area denial spells man.
http://www.wardb.com/spell.aspx?id=8499
http://www.wardb.com/spell.aspx?id=8494
etc
Who cares about their raw damage. You keep saying DAMAGE but they aren't meant to DO HUGE DAMAGE. They're meant to add significant pressure to the enemy team, which will help burn through their AP/SE/DF/etc. Sorcerer's are very capable SPIKERS, Magi are very capable PRESSURERS. It just sounds like the class type isn't for you. If you want to do BIG DOMAGE go play a class meant to do BIG DOMAGE.
Both of those aren't that great.
Dissolving Mist has a 20ft radius, not a 240ft radius. You can basically walk around it and it will take you 1 second longer to get to somewhere, or you can run through it and totally avoid any damage it would deal to you anyway.
Chaotic Rift could be decent... If you didn't have to specialize in Demonology to get it. By the way, demonology is pretty rubbish to specialize in, unless you like using low damage melee abilities while being a "ranged damage dealer". (This basically equates to committing suicide if you didn't figure it out already)
And like I said. Go and PLAY as a Magus before you try and talk about them. They add no significant pressure AT ALL to the enemy team. Like I previously said, if you took all the Magus' DOT spells and applied them to a single target, any damage they might deal can be healed (and more) with a single DOT, which by the way are a very cheap and effective way of healing. Even their nukes can be out healed by a single DOT. It gets even easier to heal anything a Magus can throw at you once healers get their AOE heal spell. This single spell renders anything a Magus has done useless (and is again, very cheap and effective to use).
I'd still rather have a Sorcerer defend a point instead of a Magus anyway.
Sorcerers get several snares, roots, silences, disarms, knockback effects an can provide both defensive and offensive buffs and debuffs (they also have a duplicate of the Dissolving Mist skill, only it does more damage). They can put much more pressure on an enemy team that a Magus ever can (they have a debuff to decrease healing done and deal damage at the same time AND they have powerful abilities to drain AP, which from a healer can be devistating). They can do all this while doing excellent damage.
On the other hand a Magus has snares, a root or two, an interrupt, a knockback effect, but provides no buffs or support at all, and has 1 useful debuff spell. They also are only doing a fraction of the damage a Sorcerer would.
If we take tactics into this it becomes even more insane. The main nuke of a Sorcerer becomes an insane weapon, capable of dealing very high damage and crippling any class (draining AP and debuffing damage).
They become much more defensive (not uncommon for them to get 50%+ resistance to all attacks except melee), 1/3rd of their abilities get a knockback effect. They become highly self reliant, being able to heal themselves with both HP and AP while dealing damage. They get even more buffs, both defensive and offensive. They even have the ability to turn their weakness and fragility into an offensive ability. All this while providing massive damage boosts.
Magus tactics on the other hand are like their abilties, 90% of them do nothing but increase damage, but it still does not compare to a Sorcerers. They do get minor defensive abilities, no decent buffs and one or two abilities to become slightly more self reliant. They also get a fair few really useless abilities (pet related ones).
I have played as both classes, I know for a fact that a Magus is a useless class at the moment. A Sorcerer out preforms them in every way possible, damage, AOE, utility, support, debuffing, defence, you name it, a Sorcerer can do it better than a Magus.