It's curious that Morrison made Magneto a far more compelling character dead than he did when he wrote him alive.
That was the point of Magneto's role in the run. The whole thing was a demonstration of how morally questionable figures can be changed by word-of-mouth (there's very few who know that St. George, for instance, was the Persian son of a pig-farmer who later aspired to own his own brothel), and to satirise the horrible "He's A Villain/He's A Victim" fairy-skip plot that had pervaded Marvel over and over by showing us: he's a psychotic, damaged terrorist.