In my view the magic victory in WOM suffers from two main flaws. 1) It is too similar to a military victory and 2) it is too boring.
On the first point, the primary barrier to a magic victory is having the four shards, and the only way to get those shards is by attacking and taking them from your neighbors. The only times I found casting the spell of making is when I was on my way to a military victory and realized I had 4 shards. It should be possible for a small, but highly magical, kingdom with a small army to achieve a magical victory, which just wasn't possible in WOM
The second point is pretty self explanatory, it feels too much like pushing the "win" button. There should be a buildup where you steadily advance to your goal. In a military victory you can watch you empire spread across the map defeating enemies. In a quest victory, while by no means perfect, you have to at least complete a series of steps that builds up to the final point.
So my wish for FE would be a magic victory that addresses these two points. I have sketched out a brief example of the kind of thing I mean below. I don't believe my example is the ideal, but just meant to illustrate what I mean.
My Example
In order to cast the spell of making the first step would be to build 4 buildings, one for each element.. These buildings would be quite expensive, would cost mana to build and could only be built in a high level city. Could also have more exotic requirements, like completing a quest that required magic. Each of the buildings would also confer significant magic specific advantages on the faction, advantages large enough that it would be reasonable for someone not pursuing a magic victory to build them.
Once the 4 buildings have been completed the player would have to cast 4 spells, one for each element. Each spell would have to be cast at the city with the right building, and be cast by a high level spell caster. The spell wouldn't just complete right away but would last for a duration. How long would depend on the level (and traits) of the spell caster and how many shards of the right type the player posses. All other players would receive notification the spell had been cast. And for as long as the spell lasts it would bring negative consequences on the caster's kingdom. It could also negatively impact other factions, but the bulk of the damage should happen to the caster. For example the fire spell might call down firestorms that destroy improvements and damage units etc. These effects can be mitigated if the caster is high level and/or the players has the right shards. After the spell completes the player has "mastered" that element which can confer advantages, e.g. the caster gets some bonus, the player gains extra shards, gets fire elemental units etc.
Only after all of that could the player cast the spell of making, which itself might have a duration etc.
So that is my example, again I don't think it is ideal and it would have to be balanced etc. But I do think something in this direction would be better than what is found in WOM.
What do you all think?