Okay so a 99% drop...
what happens now?
Are other people moving to other low power CPU coins?
That's the thing, isn't it? There just _aren't_ any other low-power coins. m7m is the only algorithm that punishes miners for high (total network) hash rate.
Really, the biggest problem with Magi is that development essentially stopped. Even the last update was just a bug-fix because someone had found a way to abuse the network. It actually would be really interesting to build this onto Komodo or one of the other parallel-chain platforms with atomic-swap. It would also be super cool to get m7m added as an algorithm to one of the many multi-algo POW coins out there (Myriad, DigiByte, etc...) and work some AuxPOW magic. Lots of things could be done with Magi, but nothing has been. No development. Less marketing. It's really a shame.
Other, younger, coins have done lots of work to target CPU-mining specifically. Why didn't they adopt m7m-hash instead of developing their own algorithm? Who knows and at this point it doesn't much matter.