I don't see the problem with this. How is this worse than people buying a gold watch? There are many crazy things going on in the world, many of which one could actually complain about. WotC printing fancy cards for people who want them isn't one.
I'm not
sure it's a problem either, but I think there are valid reasons to be concerned about the proliferation of variants. First, a similar expansion of weird variants marked an era of desperation and decline in the baseball card market, and even if the purpose of the cardboard is fundamentally different (game pieces vs. not) the comparison has people spooked. I'm not certain that this is a death knell for Magic, as these things have been done in TCGs to a fair amount of success *gestures wildly at Yugioh and Pokemon*.
Second, I think there's the assumption that WotC is putting all this thought into variant cards at the expense of the gameplay experience. This is harder to determine, but generally speaking I think we can all agree that sets play very differently than they did not too long ago. It may be a coincidence with the Arena-fication of the game, but word salad cards have become more and more common over the last few years, as have cards with lesser degrees of resonance (your experience may differ, of course).
Third, and this is the one I'm most concerned about, the
pace of variant diversification has been incredibly rapid. We started seeing serious quantities of alt-art/alt-frame cards with Ultimate Masters and GRN Mythic edition, IIRC, and that was in October 2018, just three years ago. Since then, we've recieved a shitload of frames and art. The things that's worrying about this is that WotC has said on numerous occasions that their turnaround time on making changes is year and a half at absolute minimum, so for them to commit to this much this fast implies a significant, blind change in their priorities. This is explicitly driven by how they've said that their goal is to double Magic's profits in five years,
which they completed two years early. That's insane. But all this isn't actually a concern on it's own. What's concerning is the implication that WotC may turn to mechanics next once art "power creep" has been maxed out. We already see this with things like Ragavan and the MH* sets as a whole being ridiculously pushed beyond what's healthy for the game. (As cubers this doesn't have to affect us, but it sure will mentally) And sure, WotC is a company and so it's always been chasing profits, but up until recently it's been trying to do that through stability, not rapid expansion. The change in priorities isn't necessarily a bad one, but it is a drastic one, and it's not unreasonable IMO to think it might be too fast.
Fourth, there are so many freaking cards being put out these days. WotC has done a tolerable job of balancing them, but it's felt more precarious than ever. Again, this isnt the fault of the variants, but I think that they come from the same profit motivation and so we conflate the two.
Fifth, there are readability issues. Reading the card still explains the card, but we associate cards with art and frames so strongly that taking this shortcut away causes people to have to re-parse a lot of cards, which is definitely a problem during draft. Again, we can avoid most of this as Q-berts, but to dismiss this as an issue is sticking our heads in the sand.
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You've probably heard this all before and may not have been looking for such a screed (sorry), but I still think it's valuable having this discussion here where we know each other and have the trust built up to have a reasonable conversation unlike the poo-flinging that happens over in a YouTube comments section. I think the variant cards are universally cool, even if I have some reservations. My real complaint is that I can't afford them all and so I refuse to purchase any of them because I know I have little impulse control