So, helpfully, we're not entirely sure but 'both' is probably the most accurate summation?
The research we've been able to conduct suggests that there is something behind the Waypoints (the natives call it Vallo, but whether it's the world itself, some other sentience they're equating with it, or something else entirely we don't know) which is, broadly speaking, pulling anything it finds interesting from its own world to this one, but it's not communicating with us in any way we can understand.
For what it's worth, 'Magic' is a word that seems to mean different things on different origin worlds. Personally I'd equate it with 'the ability to reshape reality via the imposition of ones own willpower' but different practitioners work differently. Regardless, it is very definitely Real, and far more prevalent and accepted here than most people are used to.