Magic in the MK setting follows, roughly, a five thousand year cycle. At the current time the world's magical potential is becoming greater.
Where it is in that upswing I could not offer any opinion that would not render the world 1000 years in the future a frothing chaos of primordial energies or magic dead world much like our own.
Years ago I talked with Raven at length about the MK of the future where magic was not exactly 'more powerful', simply more plentiful and easier for the average person to make use of.
For the most part the 'Immortals' in MK2K really play a relatively small role. Murikeer, in that timeline, was anything but Mary Sue; only his age gave him a versatility he currently lacks in Metamor. He's … Gandalf or Allanon. A guiding force but not the primary actor by any stretch.
Unfortunately over time that world skewed a bit into directions I could not identify with and I released Raven to do as she might with Muri therein (of course, with some small oversight to keep his 'character'), the end result being his return to mortality (or demise).
That potentiality is a split from the current direction of the MK setting; another dimension of 'what could be' and is very, very far into the future either way. If the starchild arc ever happens, or not, the schism could occur at any point without any knowledge of the participants on either side of the potentialities.
But, overall, my take on the 'future' of MK… magic is becoming more plentiful, but the practice of it not particularly more powerful, though the level of power would grow, if more slowly. More people can grasp and manipulate it in time; low level magic becomes all but ubiquitous almost everywhere save the holy land(s) or other magic-empty regions. This will, in turn, find an increased occurrence of those things that magic has a rather common chance of affecting: More non-humans in the world.
An upswing of the Elven kingdoms. Those Lutins who remain civilized becoming a common, if downtrodden, aspect of normal day to day life. In the north Giants begin to regain their wits. More lycanthropes of all sorts. Frightening and great dragons (those that are not slain for being frightening and great) laying waste or taking command. More unanchored spirits, possessions, a thinner veil between the spirit realms and the mortal.
And low-degree enchantments becoming commonplace.
If anything, a greater push toward the D&D sort of world rather than the steampunk or even technological.