I agree with those who say the question is much too broad to be meaningful.
Answered from the angle of my current preferred game, D&D3, I said no. Although I could do without paladins and rangers as spellcasters, magic is not “too commonplace.” It’s not even commonplace.
Magic (spells, items, effects) are much more common among adventuring PCs than among the normal populace at large in a D&D world.
Guns, explosives, and surveillance equipment are much more common among adventuring PCs than among the normal populace at large in a “Modern RPG” world.
Spaceships, power armor, and robots are much more common among adventuring PCs than among the normal populace at large in a “Sci-Fi RPG” world.
But in none of the above cases, does it mean that magic/tech is commonplace, or too commonplace.
Quasqueton