Magic the Gathering is dying. It is rapidly running out of design space: ideas for new worlds, ideas for new mechanics, and ideas for new cards. The game has also lost its soul. The art is shit. We used to have real paintings: now we get shitty CGI art with no sense of aesthetics. There are a few good nu-MTG arts here and there, but for the most part they are shite. Look at Skyknight Legionnaire then and now. Also it doesn't help that Wizards of the Coast has turned their tournaments into a safespace for women who don't even play (they do but they are like 10% of the fanbase) and publicly virtue-signal at every opportunity. Also the forced diversity is a factor. Combine this with the break-neck pace of the sets as the jews at Hasbro try to squeeze every penny out of the brand that they can, and the horrid imitations of real-world cultures in place of actual creativity (not!India, not!Greece, not!Egypt) and you have a recipe for absolute burn-out and boredom. Modern is a stagnant shit-mess and the barrier to entry is so high that why would you play? Not to mention nerfing the game for planeswalkers, removing Lightning Bolt and making its shitty little brother into an uncommon. The game is being nerfed and hugboxified (removal of evasion and nerfing of kill spells) and is becoming a dumbed-down hugbox to pander to Timmies and normoniggers (lots of overlap there).
Wizards just keeps making dumb-ass decisions. Ban some YouTube guy because he said something mean toward a precious pussy-possessor? Sure! Put traps on the cards to show how progressive they are? Sure. Make absolute trash sets over and over, and make them cycle so fast that new players have barely any time to get into a set? Sure. Magic is a cash cow that is fast burning itself out. The game is trying to compete with digital games like Hearthstone. It will die soon, and hopefully it will die with some shred of its dignity remaining.
Probably not, though.