Hey there!
Yeah, it was a bloat matter. The old magic was too specialized, and there were many rituals you'd use once or twice maybe (IF you used it) and several of them kind of did the same thing. Now the magic is more about "versatile cool spells" than "extremely specific rituals."
That being said, I intend to introduce new powers and abilities in the final release, and some of them are related to previous Arcana powers that have been "scrapped out" in this beta.