They've cut more than that. I don't know what year of the Second Age the show is supposed to have started in, but it seems like they're compressing more like 3000 years into basically a couple of weeks so far.
For no reason whatsoever I'm giving them the benefit of the doubt that Tar-Miriel is putting on a front and she's really one of the Faithful and shit will hit the fan when her father dies and Ar-Pharazon wrests the scepter. I'm probably wrong and it'll go down like you suspect.
Although, dragging Sauron back to Numenor was always going to be a problem for a show covering this period, particularly for non-readers. They'd need to go through the build-up and massive special effects expense of launching the largest, most powerful fleet to ever sail the sea, get it to Middle Earth to meet Sauron's massive, battle-ready army, only to have...the Orcs flake out without a fight and leaving Sauron alone looking like a chump. It works in the book, but that would be a tough sell for a movie / TV show.