I guess there have always been stories about magical people, and there will always be. The question is, how do you make it fresh and new, so that people don't roll their eyes and say, "Oh no, not another wizard story, Harry Potter rip-off."
Magic is a plot mechanism, not a plot in and of itself. Jim MacDonald recently posted a number of movies that were adaptations of the exact same story. Another, classic, example of this is
The Seven Samurai and
Guns of the Magnificient Seven. You could easily go off and write
Seven Magnificent Mages, which is a retelling of the same story, but where the heroes use magic instead of swords or guns.
That would have no recognizeable similarity to Rowling's stories, which are coming-of-age stories with a backdrop of magic. But people would say that you DID rip off Kurasawa. Because that's what they say about the western version.
It is when the genre features become the plot that an author is being gimmicky. Science dominates science fiction, the method of the murder dominates the murder mystery, the fantasy setting dominates the fantasy novel. Books need to tell stories. The setting is flavor and spice.
I'm writing a story inspired by the Lord Byron quote: "Power tends to corrupt. Absolute power corrupts absolutely." It's an old message and has been an element of a vast number of stories. I'm taking it into the fantasy realm and presenting the dangers of having personal power. I'm using magic as my source of power because I can make magic behave any way I want. If I want to demonstrate a character's mood with magical auras, I can do that.
I could easily rewrite the story such that it's about a reporter who gains privileged knowledge, making her powerful. She would then have to decide what to do with that newfound power. I wouldn't be able to use the crutches of magic, which permit me to write about metaphors as physical things, but I'd still be able to present the same points. Because of the characters.
So don't sweat it. Find a story that you want to tell, set it in a fantasy world that can carry your story and go write it.
JB