Of course they were no match for horseculture cavalry like the numidians, but why should they be worse than the casual cavalry of the time?
That depends on what you mean by "casual cavalry" if you mean the same as most of the surrounding cultures I would disagree.

If you compare the Pre-Marian Roman Equites to the cavalry fielded by other cultures surrounding Rome during this time, you'll find that the other cultures were always the superior horsemen... The Gauls, Iberians, Greeks, and Numidians all fielded far superior cavalry to the Roman Equites.

For Rome the infantry of the legion were the ones who really decided the outcome of battles, Equites were limited to scouting and screening the flanks. Eventually Rome realised its glaring weakness and drafted in better Cavalry from those cultures.

Personally I think that CA certainly got the unit stats wrong, and the Equites should have all the raw power of those "Macedonian Light Lancers" who die so well it hurts!