Chapotraphouse

There was a line in Fullmetal Alchemist: Conquerer of Shamballa, where Edward Elric and Mabusa (a filmmaker) were having a conversation about other worlds/parallel theory and the conversation mentioned "what if Alchemy prevailed" and treated it as a magic system.

Paraphrasing, Edward responds that we wouldn't know the difference since it'd be another technology for people to use. It wouldn't be magic it would be mundane.

Part of the appeal of magic in Television/film and series is that magic is mystified, undefined, and rare. If it were commonplace then it'd have to be game-ified (i.e, mana, trinkets, runes, power level) and then the show's magic would be something like latter era seasons of Supernatural. A science unto itself with magic batteries like grace or soul power instead of an esoteric channeling of incomprehensible mysticism.