I don't think this is actually a contrarian view: "magic is fading, and the Elves cannot live in a non-magical, mechanical world; thus they leave for the West."

I don't think this is actually a contrarian view: "magic is fading, and the Elves cannot live in a non-magical, mechanical world; thus they leave for the West." This is inevitable: a company can wither, transform, or try to set up a protected reservation for those of the previous Age; what it shouldn't do is pretend that it's not happening.