The Cutter regulator is small for a reason; it's not the warship that was promised; it's something else.
I love mine. I love that the cap forces concessions. Same with agility. You have to fly it like a large ship, not a viper. Given it's a large ship? I am okay with that. But even with a larger CAP, it's not going to cure the decision Frontier made. Frontier do not want it to be a warship. It's very clearly compromised, on purpose. It's not a "mistake". It's a design decision. All imperial ships have a smaller-than-required regulator.
It's a trader; that can do so with absolute impunity; until a couple FDL rock up. Then it's all over red-rover, unless you bug out. Pretending it can ever be 'the' PVP ship of choice, even with a larger cap, is borderline delusional. This game is not built with large ship combat in mind. It should. Really honestly it's about time it should. But it doesn't. A wing of FDL can utterly destroy virtually any large ship at will. There's no counter. Because the ship's simulator is basically built on rules that everything must out-pitch to win and simple, pure DPS is all that's needed.
Large ships should be scary as hell and a real mouthful for even a competent wing (including AI). Brown trousers time if you pick a fight with one. They cost a fortune to rebuy, but the combat model is still based on ships that have < 2 mil rebuy. It's still a small ship game. Which is why it's so easy to punch down an AI anaconda in even a small ship like a vulture or courier. Not so much because AI is (so much as making it fish in a barrel) - it's just so stupidly easy to blast out the power supply and then wail on it till it goes 'pop'.
And I tend to think given where the design and development team are fixating on? Probably never will expand beyond that; because it means a fundamental re-write of the entire combat mechanics. Smarter AI just means it takes a little longer to pop that reactor. It's still trivial to take one down. I've never been convinced that that should be the case.
I love what Frontier have done so far. I have some grievances, sure, but they are honestly pretty minor (wings and matchmaking notwithstanding). Lots to love. But the game just isn't designed for large ships. This makes me a little sad, but I hope, one day, frontier actually address that.