You can't assume the email will be delivered so quickly.
Who wants to get locked out of their account because the email has not arrived?
Login links can be a convenience feature but they must not be the only mechanism for login.
I've only found lua and MATLAB that use it but its interesting to understand. I was super confused on what you were trying to say.
Magic links will be more secure.
2fa + password means they could compromise the e-mail and still not be able to reset a password without the TOTP.
Social Auth is even more secure than magic links because the larger companies like Facebook and Google have already implemented SECURE 2fa and they've also implemented IP / Computer tracking so that if abnormal authentication happens you have to go through better verification.
If a magic link gets opened from Argentina when the user traditionally logs in from North Dakota, are you blocking that until they go through more verification? If not its not more secure.
If you add 2fa to passwords and keep the email reset then magic links alone will still be more secure.