If you're asking if more games will add these elements in, only time will tell. In terms of the logic of a game world, you need to have the world in a state of flux, so that even though it would be difficult to have both equally powerful for a long period of time, one could be losing power while the other is gaining . Magic in itself isn't less powerful in and of itself.
Technology is just a different type of power for mages to deal with.
Either can overpower the other, dependent upon the skill of the user. Magick has definitely lost a lot of its political power at this point in Arcanum, though. We're in the process of balancing the two right now. We feel very confident that though they will feel different, there will be a good balance in Arcanum between the two forces. I think it makes the experience that much more interesting.