I wouldn't quite put it that way though I can see how someone else might. I think people are just too "danged" sure of themselves, too sure of their infallibility, too sure a mere (monkey, primitive human, near human .. pick one) can't outsmart them. That leads to believing either bigfoot a) doesn't exist or b) must be "magical". For people who have seen enough, non-existence isn't an option. When confronted with what is left, a binary choice between accepting their own limitations or leaping to "magic", their feeble egos choose "magic" as the explanation.
I don't happen to fall into that trap.
That said, there are a few repeating occurrences ... in other words, good probability there is something real ... which are either beyond current science -or- there's a bit of trickery in play so that we fail to use the correct piece of current science when trying to understand / study / identify it.
I think both of those are a cool challenge to try to get to the bottom of and I accept in advance that I may fail to do so. Doesn't make them magic though.
(I think your assessment of UFOs, overall, is a very sensible place to start.)
MIB