Before, we had people with magical abilities who traveled from plane to plane having adventures. Also, we had beings of near godlike power. We called the second group planeswalkers.

Now, we have people with magical abilities who travel from plane to plane having adventures. Also, we have beings of near godlike power. We call the first group planeswalkers.

The fact that "planeswalker" used to describe the godlike beings and now describes the random plane-hopping adventurers seems like no more than a semantic difference. The fact that the all-powerful beings used to be planeswalkers and are now other things (like Eldrazi titans) also seems like semantics.

The adventures of Jace and his crew of planeswalkers doesn't really feel all that different than the adventures of Gerrard and his crew of companions. The fact that the characters now can planeswalk without needing a magic airship or finding a planar portal or dealing with some other Macguffin is convenient for storytelling, but doesn't otherwise really change anything.

This story is a great example--it was amazing, but nothing about it couldn't have been done exactly the same way with the modern take on planeswalkers. That could easily have been Gideon instead of Gerrard, killing a former ally in an attempt to rescue Elspeth, only to find out it was a trick. The telling of the story is what makes it good, not the fact that Urza was an all-powerful planeswalker. Hell, that actually makes the story a little wonkier, since Gerrard would only be able to beat Urza because of Urza being de-powered by some plot contrivance. The story works just as well (and is actually smoother) if Urza isn't virtually omnipotent to start with.