Well fantasy by far got the most traction, so I would imagine most people agree with you.

A low magic world is not as much a hindrance as that though, it could merely mean that while magical forces may be very strong in the world people have very little cognizance of it and rarely experience overtly "magical" magic in their daily lives. Personally I'd be happier with low to mid magic than I would be with high. As to me high magic indicates its heavily integrated with everyday life and everyones walking around with ridiculous things like healing potions or scrolls of teleport etc. To bring it back to your point; having no limitations is just as divisive and as much of a hindrance as a world we limit to stark realism.