Except that the ritual magic done now isn't awesome, but mundane. You want something truly spectacular, well, the survivors of Atlantis would like to have a word with you on why that is a bad idea. So bad, that the laws and metaphysics of magic spontaneously changed themselves to make it not only not happen again, but never happened at all.
Alternately, the ritual magic that hid the Wizarding World completely... damaged Magic itself. Magic was not meant to be hidden away like it was, and by doing so, the wizards permanently
lessened Magic, rendering it absolutely incapable of the truly impressive feats of ritual magic (such as, say, reversing the ritual magic that hid away the wizarding world and damaged Magic). Think of Magic as a link between certain beings/plants and the planet itself. The ritual essentially severed part of that link in order to hide the link and link users' existence from those that could not touch it. The repercussions would be felt everywhere. Without the higher Magic limits, the magic keeping Atlantis afloat and safe was no longer possible, and it sank beneath the waves, forever hidden. Dragons that were once highly intelligent suffered mental damage from the lessened Magic. And so forth. Not only that, but the damage to the link is slowly increasing, further severing the connection.
Eventually that is discovered and a way is devised to send several people back in time to some point before the ritual, where they come up with a piece of ritual magic that stores magic like a battery, so millennium in the future, that accumulated magic can be used to power a ritual to undo the damage done and un-hide the magical side of the planet.