Yeah, using M:tG as an example, the wish spell would be effectively a token that you start with that says:
quote:Cast any known spell. No mana is used to cast the spell. Use this anytime you can use a Sorcery
It isn't an automatic win button, but pretty dang close. Add in the other effects that you can do with the associated stresses and potential loss of wish forever and you can get a really good idea of the amount of power that is available.
Don't forget the downside of casting wish in 1E/2E ... the caster ages 5 years. Or more for longer-lived races (35 years for an elf).
To be sure, there are longevity magics of many sorts. But they invariably have some sort of limitation or are exceedingly rare and precious finds. So access to extended years is something the DM can control. And "ageless" spellcasters (like liches) can be fearsomely powerful.
And to be sure, there are methods of using others in your place when suffering permanent aging or stat reductions. Evil methods. Or, if not Evil then certainly not easily obtained - few NPCs would trade away 5 years of their life cheaply. So access to countervailed years is again something the DM can control.
Remember that taken for what they were in their intended contexts, the 1E/2E wish rules were not really broken. They are only broken in the context of prevailing attitudes towards magic in 3E onwards.