The game exists only because it makes some people money. That is an objective reality so I will start from there. A primary goal of the business which produces Elvenar should be to make more money. Revenue for Elvenar is generated by players paying money for in-game benefits. I may not myself be an expert in the matter, but my little brother is an actuary--an ultra high-paying profession that deals with the mathematics of statistical projections, and I do know the basics of how this stuff works.
There is, I am sure, an identifiable and reliable percentage of players that pay. The path to increased revenue for a game like this, naturally, is to increase the number of players that pay. Trying to increase the percentage of players that do pay is an enormously difficult task, and may not be feasible. Therefore, increased revenue can be achieved simply by increasing the total number of players as much as possible, and then relying upon that percentage of paying customers to hold, and as it does, the number of paying customers increases as well. Revenue goes up and the business is happy.
Here is the problem I see with the magic academy and it affects your bottom line: you can't increase your player base if you've taken your eye off the ball and you are not focusing on how your base of players is reacting in the first place. You guys seem so focused on what might be enjoyable to attract new players that you are not taking care of your existing players, and you are losing them. The path to increased revenue is to increase marketshare, not to ditch your marketshare while trying to attract an entirely new one using the same product. If you want to abandon your users and ignore them and go after a different set of users, that only makes sense if you are doing it with an entirely different product with market research behind it to back you up.
We don't want the Magic Academy. I'm sorry the time and effort put into it was wasted. We still don't want it. At the very least, you could make it removable and smaller. Make it optional. Then you don't have to think your efforts were wasted. They will be used, if only by very few people, and if only temporarily while they figure out that they don't actually want it.
How about it? Why not try listening to your users? Why not take the path to success and increased revenue.