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How could I forget? It's one of the greatest co-op games of all time. It's up there with Castle Crashers in replayability and classic status. I seriously don't understand how it wasn't a bigger hit with there being multiple gamemodes and how easy it was to play with friends. It was a pretty funny game too. Yeah it has literal reddit humor (and I do mean that literally, pretty sure there are a few explicit references to the site), but outside of that the humor still holds up. The dynamic combat was also amazing. Being able to mix and match spells to create your own playstyle was sweet (although people often just would use arcane, fire, lightning and beam down anyone who got in their way). While I understand why they decided to follow it up with Wizard Wars, it wasn't nearly as good as 1 (mostly because of having to constantly balance spells, which 1 didn't need to for the most part). I have 2 in my library and haven't ever played it, but I hear it's like 1 but even worse. I think partially because whatever balance changes they made in WW, they kept in 2 (making a lot of combos weaker).
I think a lot of games simply don't care about making it easy to hop in and play with friends anymore, except for the the new "friendfarming" genre like Lethal Company and most recently R.E.P.O. It's a shame, really. It also SUCKS that the final Magicka update on Steam broke it so you have to roll it back to the update before if you want to play with friends. Also the CTD spell was hilarious to use in high-stress situations. Magicka really is a case of, "they sure don't make them how they used to."