I have been thinking about something similar for the past few weeks. It was about a cyberpunk setting in which the legend about Arthus and his knights were reality. (Jesus did not exist in the past of that setting and therefore christianity did not either).

But to your question. I think it all depends on how easy magic is accessible. If it is very rare (like jedi in star wars) a lot would be the same, except for some elite orders or universities. If it is more common maybe during industrialisation they also found ways to channel arkane power mechanically?

I am looking forward to see what ideas this thread may produce.