Do you know what the difference between Ready Action and Ready is? The word Action. You're arguing a nothing burger.
The word "Action" which never appears like that with a capital A anywhere in the text.
You lose the action, and because you already cast the spell using the Magic Action on your turn, you lose the spell. Or in the case of the magic item, it simply doesn't get used.
EXACTLY you lose the action if you don't use your Reaction!
You say the Reaction completes the Magic action when you ready the spell and if you don't take the Reaction then you would not get to take the Magic action. But you did cast a spell .... so you cast a spell without using the Magic action!
You LOSE it, which is why you LOSE the spell. It's going to finish one way or the other.
You already cast the spell, that part is done and over with and has no bearing on what happens afterwards.
Use it or lose it. This is not rocket science man.
Yes if you don't use it you don't get to take the action, so then you don't get to take the Magic action then you would have cast a spell without using the Magic action. If I lose the Magic action then I did not take the Magic action.
The action chosen with Ready is not the only thing you can do with your Reaction. I can Ready a spell and then decide I want to take an opportunity attack if one presents itself, or I can Ready a spell and then cast Shield if somebody hits me with a weapon. Or a Glamour Bard can do Matle of Inspiration and I decide I want to use a Reaction to move. In these cases I take another action with my Reaction instead of using it to "release the energy".
If I am to believe you I would need to take 3 different actions here. Take Ready as an action, then I have to take the Magic action to cast a spell then a third action as my Reaction and in all of these examples I already cast the spell on my turn.
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