It works just fine for Valheim. You're stealing tools, items and other powers of your enemies all the way to mistlands. It makes sense that the magic used in the 10th world would be greater than mere runes, and you've got that sort of thing available to you already in form of portals, wards, moderately magical equipment like Frostner, and so on.

Like most things, magic sticks that shoot fire and frost only seem bad if you fade out everything else from the game around them, but no game feature exists in a void.