If you use magic as technology, you pretty much have to make it victorian-style MagePunk. It's ancient and medieval campaigns were it really doesn't work at all.
Well, technically everything but the PCs and NPC is what the word setting means, but a setting is just a stage. Only when people are doing something on that stage does it become interesting and alive.
For my own setting, I have the stage pretty much perfectly set, but it still feels like it's in a very early stage of development because there aren't any actual people yet. There are races and cultures, but to have any stories take place in it, it now needs to have some movers and shakers. People with conflicting goals and coliding values who cause the friction where there is anything for characters to do.