Also of note, most of the Maltese cards also boost pikes, which makes a valid composition. Comparing xbow/pike to pav/pike is a better comparison, but then ofc Malta gets Wig construction card for better wood production. That’s leaving aside that comparing imperial stats largely only matters in treaty and that Malta gets two of the upgrades cards in age 2 while Italy only has one there (ignoring swords for more Pav melee).
Edit: btw, the Malta buff suggestions I said I’d be making are here.