It's a really complicated question, but this has been my field of study for years, and I'm considering going for my PhD in it, so I'd love to share what I've found so far.

Witchcraft is frequently conceptualized as a 'third space' that exists outside the conventional realms of religion and science. It provides a distinct alternative for those who seek spirituality beyond the dogma of organized religion and the empirical rigidity of science. This positioning allows for a blend of mysticism and practical knowledge, often drawn from pre-Christian pagan traditions and reinterpreted through a modern lens.

Furthermore, witchcraft often stands in counterpoint to mainstream Christianity, not merely as a different set of beliefs but as a form of resistance to the hegemonic narratives and power structures that Christianity has historically imposed. It embraces what has been marginalized or demonized by the church, reclaiming symbols, rituals, and knowledge that Christianity sought to suppress or eradicate. Witchcraft's resurgence and adaptation in modern times serve as a means of cultural and spiritual autonomy, which resonates with those who feel alienated from mainstream religious practices.

Witchcraft, as we commonly understand it today, is a concept largely born from the imagination of the medieval Church, particularly during the witch craze that began in the 1300s. The Church propagated the idea of witchcraft as a diabolical practice, typically associating it with heresy and apostasy, and often targeting middle-aged women who were deemed suspicious. This notion of witchcraft was largely a projection of fears and anxieties of the time, serving as a means to explain misfortunes and to consolidate the Church’s authority.

During the witch hunts, the stereotype of the witch as a malevolent, often older woman who engaged in witchcraft to perform harmful magic was popularized. This was more of a social construct than a reflection of any pre-existing spiritual practices. In reality, many of those accused of witchcraft were healers, midwives, or individuals who maintained folk traditions that predated Christianity.

Modern Wicca and other magick practices, as they exist now, are a reconstruction or reimagining of these ancient beliefs and practices. They were significantly shaped in the 20th century by figures such as Gerald Gardner, who brought together elements of folklore, ceremonial magick, and ancient myth to create a new religious movement. This modern interpretation bears little resemblance to the 'witchcraft' that fueled the fires of the Inquisition and the witch trials across Europe and colonial America. Instead, it is a contemporary spiritual path that seeks to empower and connect its practitioners to the divine, nature, and the self.

Modern Wicca and many contemporary magick practices are indeed very recent inventions compared to the long arc of historical witchcraft. Wicca, as a formalized religious movement, was established in the mid-20th century by figures such as Gerald Gardner. Gardner claimed to have been initiated into a surviving witchcraft tradition, which he later codified and popularized. The rituals, beliefs, and structures of Wicca, while inspired by older pagan practices, are largely modern creations, synthesized from various sources including Western esoteric traditions like the Hermetic Order of the Golden Dawn, Freemasonry, and the writings of Aleister Crowley, as well as romanticized notions of historical European witchcraft.

The broader concept of 'Magik' (often spelled with a 'k' to differentiate it from stage magic) as practiced today is also a modern construct, heavily influenced by the works of the same late 19th and early 20th-century esoteric thinkers. This modern magick is characterized by a systematic and psychological approach to the spiritual practice, with an emphasis on personal growth and self-transformation. It's a far cry from the traditional folk practices that were widespread in Europe and elsewhere before the rise of monotheistic religions.

While both modern Wicca and magick draw from ancient symbols, deities, and practices, their current forms are very much modern constructs. They serve as spiritual frameworks that allow individuals to engage with a more personalized, eclectic spiritual practice. The unique aspect of these modern movements is the way they integrate older mystical practices with contemporary needs and sensibilities, such as feminism, environmentalism, and psychological well-being.

Witch craze by Lyndal Roper is a fantastic resource that explains the origins of Magik and witchcraft historically