Yeah, that’d be cool.
See that’d be interesting. But most fantasy writers who end up being best sellers don’t give two shits about it. Even if a magic system ends up following the laws of physics and thermodynamics, then it doesn’t get categorized as fantasy, it gets categorized as sci-fi.
This is because they would have to explain how people could conjure fire or levitate. Do they have specialized organs that allow them to convert one form of energy to thermal or kinetic energy? Where does this energy come from? How taxing is this process on the human body? These are all questions that would require research to answer convincingly, and many writers do not want to put the work in.
I've always found the concept of magic being an invention to be neat but it usually boils down to "<thing> was found that breaks physics." It's sort of like the trope of someone getting sent back in time, has a gadget with them, and is perceived as a magic user of some kind. Unfortunately, media that I've come across where that's been pulled off successfully is slim and even if I sat and thought about it for a while, I'd probably only come up with two or three good examples.