I disagree with you entirely. It seems like you are way overestimating the abilities of psychomancers. There is no other Blood with the same kinds of counters. Just because you don't like wards, that doesn't mean they aren't an appropriate counter. Anyone can learn them, it won't detract much from your character's own magical learning, and they can block any major attacks. Because of wards, psychomancy is comparatively the weakest form of magic against nonmages. Think about it, what can the average guy do against an experienced pyromancer? Saying they don't just happen to have some counter pyromancy runes, there is nothing really they can do. In this world, mages that are experienced tend to dominate non-mages, that's just how it is. The same isn't true for psychomancers, as even non-mages can pick up wards. If you just keep piling on defenses, it will make the blood useless.

Edit: To clarify, I don't think you intend to bring down psychomancy to such a degree, but I don't think you are considering all of the factors that go into its balancing compared to other bloods. I think you may also be underestimating the comparative effectiveness of other bloods.