Very wrong.  As an atheist, I have no conflict.  I had assumed for a long time that an historical Jesus was well-established.  That made no difference to my dismissal of the magical element to the story.  On the other side, every Xian has their entire lifetime faith invested in the historicity of this one character.  It's little wonder that impartiality and rigorous academic method is lacking from theologians.
After investing some time on the subject, it turns out there is no reliable historical evidence for the historicity of Jesus.  If there were a grain of truth to his 'miraculous' existence, there would've been massive contemporary and corroborating evidence - but there isn't.  There's simply testimony from decades later, Christian poetry and some heavily interpolated writing.  Jesus' existence is simply a massive assumption that is perpetuated by Xian apologists.