Magic plotlines never advanced past the 90s. They have a history of ending with apocalypses. I think they equate "epic" to "end of the world," so it's often literally the only story they do.
They have a real problem with destroying their own settings. The reason they stopped using Dominaria in the late 90s was because they already decided they had destroyed the plane too many times to bear credibility much longer.
Years later, It was one of the reasons they abandoned the mandatory three set "blocks." They kept doing the same storyline:
Set 1. New plane is introduced with unique elements that make it distinct from everything that came before.
Set 2. A conflict arises! The war for the plane's survival begins!
Set 3. The conflict is resolved, but the plane is left in ruins. The unique elements have largely or totally been permanently destroyed. It's left a generic fantasyland.
Not all of them do it, but... a lot of them do. Now that they don't do blocks so they do it less, but they still tend to revisit planes they've been to before and the storyline often involves the plane or the central theme of the plane being fundamentally altered.
It's so weird. It's one of the reasons I kind of prefer the metaplots. You don't really want to get invested in a plane because WotC is just going to come back and stomp on it.
The way this current storyline is breaking down, I'm guessing they're trying to do a metaplot reset. Teferi seems somewhat likely to be able to Back to the Future all of New Phyrexia into never happening. Then again, maybe it's another Infinite Crisis.
Yep, that happened to Alara, Tarkir, Dominaria, Ravnica, Zendikar, Lorwyn-Shadowmoor, Kamigawa, etc...
The settings that some how avoided that fate were Theros (until now), Innistrad (mostly though killing Avalcyn was dumb), Eldraine (until now), Kaladesh, Kaldheim (until now), etc...
But some sets in the last few years got single sets whose purphose was to rebuild the planes they broke. Zendikar got Zendikar Rising that had Nissa use the Lithoform engine to restore the lands destoyed by the Eldrazi, Dominaria & Kamigawa had sets that updated the timeline to the present, allow things to be fixed and new stuff added, Ravnica had the novellas. Tarkir, Alara, and Lorwyn where much more difficult to fix, although I suspect the March of the Machines and Aftermath are partly going to do that for those settings.
There is going to be no back to the future plotline. This story was like going to a doctor after your nose has been healed after having been broken, only for him to break it again, so he can set it right so it heal properly this time. They broke ALL the settings so they can completely rebuild them in Aftermath fixing all kinds of things, creating new plot hooks, and setting up changes so that it take things in a new direction goinh forward.
Kind of screwed the crossover D&D settings in the process however.