You are right that games should be balanced with focus on SP and not on MP...
but this game is not supposed to be a blobbing engine...
if you play with slow and reasonable expansion, and avoid going on a rampage the game will flow fine as it is in 1.6...
I agree, I don't really have a problem because my blobbing tends to be slow and I rarely take more than two provinces since the EU3 days.
However, the DEVS confirmed that this is supposed to be a blobbing game. Now I don't like that decision (I'd prefer more internal politics myself), but I dislike the fact that their mechanics punish you for blobbing in a blobbing game. Such a contradictory design ain't good.