The current level scaling system does not at all give you representative stats of your target level with optimal gear, and this is only more significant the lower your target level is.
If I scale from 105 down to 90 on my storm wizard, my damage gets capped at 130, despite being able to reach 156 using only gear of level 90 and below.
If I scale all the way down to 30, I'm capped at like 15 accuracy and 50% pip chance, despite being able to get 30% accuracy and 70+ pip chance with level 30 gear.
If the purpose of level scaling is to give an accurate representation of the strength of a wizard at that level, it's failing.
My recommendation would be to keep the current system, but add a second one, which instead of scaling down all stats, only scales down base health, base pip chance, and base pip conversion, while forcing you to use gear of that level.
This still allows people with only high level gear to access level scaled content, but also allows for people who've taken the time to farm for optimized lower level gear to have more optimized stats.