...You must not know what balancing is...
What is balanced about adding godlike abilities even if they are limited? Especially for such an easy series like Zelda where you have no excuse for dying.
...examples of these abilities?
Lantern-aLttP: It was useless as a weapon and its puzzles were pathetic. There was no reason to take away the joy of using items because I might have to use this in a pointless puzzle later.
Fire Rod-aLttP: They could have just made it like the Magical Rod in LoZ. The Magical Rod in LoZ was fun to use, but not as powerful as the sword and didn't work on all enemies. In aLttP, they gave it a pointless boost and then required that magic be taken when using it, ruining almost all the fun of ranged combat.
Cane of Somaria-aLttP: There was no reason to put the magic meter in this. It was much more fun to use in OoA when magic wasn't around. There was no need to make it a weapon.
Farore's Wind-OoT: What was I going to do with this that REQUIRED I use magic power? Was I going to somehow spam it to beat the boss or something? Ooccoo worked fine without magic.
Lens of Truth-OoT/MM: No reason for this. Did you spam "sense" in TP? Did that give you some sort of unfair advantage? Well I didn't...the view got annoying so I regularly turned it off.
Spin Attack-OoT/MM: Why needlessly make this cost magic when I can do the same attack for no magic? That goes double for MM where the stronger version cost no magic.
Bubbles-MM: Again, were they worried I was going to spam this or something? The bubbles were extremely weak and the fact that they cost magic made the Deku Scrub underpowered compared to the others.
Rolling-MM: Why did they have to turn it into a weapon and add magic to it? Should Epona cost magic too, especially seeing as she was invincible compared to the Goron.
Deku Leaf-tWW: There were few situations I could even use this in...gravity was its own limit. We didn't need to include magic.