Well, historicaly chariots were pretty obsolet during the hellenistic and roman period. They were used only in skirmishes and small scale battles. The last battle that envolved charits I know was Gaugamela during Alexanders campaign..long before the period of our game.
But I thing that CA choosed to put them into this (dreamy) game because its the trademark unit of Egyptians and they did well IMOP.
The unit description talks about "chariots are scared when infantry is around, so...
But then again some archers with longer range of the chariots back from some light infantry should be the cheapest way to do the job.
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