The only times Magic did this were the Weatherlight Saga (which was dogshit) and the Gatewatch (Which was better executed, but still still mostly dogshit).Most will disagree, but pre-mending, yes. Post-mending, eh, depends on the plane of the week.
Instead of a continuing storyline of a sprawling journey, you now get a mish mash of different small stories every two sets focusing on whoever is the focus in that particular story. It makes for an episodic nature, which the Magic universe doesn't lend itself well to in my opinion.
The rest of Magic's stories have always been pretty self-contained to their respective settings. Even more referential stories like the Time Spiral trilogy are still not really a continuation of an ongoing story.
The best thing Magic does from a storytelling perspective is worldbuilding. The cards lend themselves well to describing different aspects of a setting, and there are often a bunch of different factions that have their own unique viewpoints.
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