I think real magic was lost when we lost our Nevuah or by Ruach Hakodesh. With the removal of one good, there was also the removal of a bad equivalent. I remember seeing this somewhere, but I have no idea the source.
Basically, the world works on a balance scale. Since we lost a good connection, the bad equivalent was removed. Magic today is more sleight of hand, and neurological twists. Of course, it is possible modern magic has it’s roots from ancient kishuf.