I've been playing since the start and have never even had a million magic. It goes out as fast as it comes in. That's a ridiculous price.
Do you not bother with collecting from buildings when you play? I only use Merlin a few times a day to collect now.
I've been playing since Day 1 and am down to 4 million magic after unlocking BTMRR. I think that's on the low end for Day 1 players.