I have more beef with this movie than that, but I've spent more time picking apart the basic worldbuilding premise in my head than the other stuff, so I'd rather focus on that.
So you're telling me that everybody decided to abandon magic? Everybody? Just because some light bulb was a little easier? There aren't still some magical specialists around to do the jobs that technology can't do as well? Because I don't believe that technology just overtook all of magic's applications like that. Heck, I'm pretty sure magic would've been helpful for some tech (you can summon lightning in this universe, sounds a lot easier than drilling for oil or mining for coal). I don't remember all of the spells in that movie but I'm pretty sure that growing spell could be useful for something other than riding a cheeto down a river (heck, even if riding a cheeto is the only use, that would probably wreck the boating economy, especially since cheetos don't seem to dissolve in this universe).
That is all for now.