I agree with this. I would rather like to see chariots fewer in numbers but stronger in defence. Seeing half of the army of chariots who fall like flies doesn't seem right.

But wait till the AI gets silver and gold chevron chariots with improved armor.
In my current campaign Pontus and Egypt uses tons of chariots with attack 17-20 and defence 5-7. They slice through phalanxes like throught the butter. After that they circle arround so fast, that it is impossible to reform the lines