D&D has been high magic since at least 1978 and in 1E it was more high magic than it is now. Pick up an official adventure from 1E and compare the magical loot to what you will find in a WOTC 5E adventure. I would guess on average there is around 5 times as much.
We are playing a remake of Bone Hill and Assasins Knot. The DM is using the loot in those original adventures and by level 4 all 5 PCs had every attunement slot filled and we have multiple attunement items in the random party loot that no one is using. Things we found include a Ring of Invisibility, Gauntlets of Ogre Power, a Wand of Fear, a cloak that lets you use the Etherealness spell, two sets of Bracers of defense, a helmet that grants true seeing, multiple +2 weapons and armors .....