Whats the point of leveling magic?

[Cubical]

What's the point of leveling magic when your spells don't get significantly stronger when you level up. The only thing that I can see is that it is just taking more mana for me to cast my spells. Im doing close to the same magic damage as a level 8 with level 5 magic when neither of us had resist on. It might be just me but I think if I were to get hit by one of ed's bullets it should do more than 8-11 damage with 0 resist.