Overall, this is an excellent use of one page of text. It provides a strong simplification of the Spell the RPG rules, a strong setting that stems from an implication the rules provide, and a starting point for an adventure in this setting.
To go a little more in depth, I feel the first page's Spell supplement is a powerful way to represent the direction that the full game pushes without overburdening players. In my efforts to introduce Spell, the primary complaints were around how the options were paralyzing. These rules narrow those choices down into something simple and perfect for a one-shot, while also allowing the players to grow into the full game if they enjoy that experience.
That supplement, along with the setting are amazing. It feels like a fun way to explore how spells can be passed down and form a town. There's a small suggestion of a possible adventure as well for people to easily build a one-shot with this rpg alone.