Why is magic different than other arts in the fact that the audience knows they are going to be deceived but still enjoy magic anyways.
IMHO Robert-Houdin got it right in his "Secrets of Magic..." book about ours being a theatrical art.
Some misapply the Coleridge quote about romantic poetry by omitting the presupposition of the performance being framed (and contained) in the same way as a story - no lingering worries about one's money turning to blank slips of paper or that the in-laws will be reading ones mind just because the guy on stage could.
There is a difference between the buy-in of magic shows and drama in that drama asks the audience to consider the emotional circumstances of the characters portrayed while magic shows ask the audience to consider the base condition of the very materials used in performance ( be they physical or just thoughts ).
Hope my perspective on that stuff helps for a start,