The whole reason for a precisely mathematical scoring system, like CoP, is to measure exactly what a skater did on the ice.
No, the purpose is to measure exactly what the skater did on the ice
within the parameters allowed. A program with three triple lutzes would be more difficult than a program with two triple lutzes. A program with seven triple jumps and seven double jumps would be more difficult than a program with seven triple jumps and four double jumps. But the system is designed not to allow the former layouts. The more difficult program will not always deserve more points according to the rules.
Similarly, there are features that can make elements more difficult -- including, for example, jumping in both directions -- that are not captured by the current rules. So a skater could do something that's more difficult and get no extra credit for it -- or no credit at all.
A senior lady in 2013 could do the equivalent of a level 4 spiral sequence and later a level 4 step sequence and get no credit for either under the 2013 rules, whereas a skater who does a simple choreo sequence after a level B step sequence will at least get some points. Still, everyone knows the former skater did more difficult sequences. Doing the sequences in the wrong order than the rules require is bad strategy.
Yes, it's true that the program you described with the two triple lutzes does not exceed what's allowed. But it doesn't fill what's allowed either. It left out some allowed parts of elements.
Now, the rules can be changed to capture areas of difficulty that are not currently covered and to give more flexibility in the kinds of elements and features and the kinds of temporal sequences with full credit for what was attempted, and the scale of values can be adjusted to give so much credit for difficult jump Q that doing it solo would always be worth more than doing easier jump P in combination with an even easier jump.
You and I agree that the current well-balanced program rules, level rules, and values in the scale of values are not the best possible examples of what they could be. We disagree on many aspects of what alternatives we think would be better.
But even the best possible rules will still need to have caps on certain kinds of skills, with limited opportunities to earn points for each type of skill. If the goal is earning points for elements, skaters need to choose their elements from each category to make the most of their skills within the element slots allowed.
There's no way to have a level playing field without some limits on number of elements, even if we disagree on exactly what those limits should be.