I mean, in fairness, if (and that's probably a very big 'if') the thing in
Dark Depths is really just an extension of the 'real' Marit Lage, it could be a scenario like with the Eldrazi titans and she's just a metaphorical hand that got frozen in a metaphorical pond. If she has a 'real' form somehwere out there, it
could be the most powerful creature in the multiverse, and maybe she doesn't even care about or notice that tiny 20/20 avatar of hers that's trapped on Dominaria. Another possibility is that, even if the avatar token is the 'real' Marit Lage after all, maybe she wanted to be frozen and is just chilling there, like Emrakul had herself sealed in the moon.
Wrath of Marit Lage's flavour text seems to indicate she's sleeping, so maybe it's just some kind of hibernation and she can escape anytime she wants as soon as she wakes up. Not that I
want her to be super absurdly powerful and start some sort of power creep where she could eat Emrakul for breakfast, I don't think there's anything to be gained from that. Nor am I in favour of making her a planeswalker (or an Eldrazi for that matter). Again, there's nothing to be gained from it, and you'd have the Mending comlicating things.
It's a shame they wasted all that Lovecraftian potential on the Eldrazi. Sure, I realise the Eldrazi ended up they way they did sort of by accident and they just made stuff up as they went along to fit their big, colourless creature-designs into Zendikar. But at least with the power of hindsight, establishing Marit Lage as Magic's Lovecraftian horror element rather than the Eldrazi would have been way more elegant. They even could have started that with
Coldsnap. The story just felt like a rehash of the
Ice Age related stuff that came before, with a bunch of mages we'd never heard of trying to freeze everything over again, a new zombie army, some more fighting around Tresserhorn etc. What if the 'lost' set of
Ice Age block had been about Marit Lage's awakening instead? With all the glaciers melting after the Thaw, of course her prison (if it even is one) would start melting as well, and
Dark Depths does a great job showing that. She could even have brought back the cold and paved the way for Snow mana just like the Rimewind mages did in the real set.
Wrath of Marit Lage suggests that's a thing that actually happened, at least locally. It could have ended with Jaya Ballard coming back and helping to drive her off or lure her away so she would have left Dominaria. We could even postulate Marit Lage went into hibernation in the first place because she was trapped in the Shard! From there, the way would have been free to have her return as Magic's Lovecraftian entitiy, and we would have been spared the disappointing treatment of the Eldrazi arc (retcons, changes in direction, taking forever to be resolved, Eldrazi overkill in BFZ, OGW and EDM, the Sorin-Ugin-Nahiri reunion that had been built up for years never happening, possibly even Tarkir's timetravel disaster via the connection with Ugin etc.). All the elements would have been there: Marit Lage's unfathomable nature, her ability to travel the planes, inspiring cultists, giving people visions/bad dreams/madness, warping reality etc. It might have been best to not have her destroy planes the way the Eldrazi titans did, but to just be there at the fringes of the multiverse, messing with planes once in a while, being opposed by the occasional planeswalker etc. Just a more subtle Lovecraftian "Marit Lage is out there doing things and nobody can do **** about it" approach. The exciting thing about her could have been that we, the audience, gradually learn more about her nature and her agenda over the years as she appears in the occasional block, not the same handful of characters discovering the bigger picture and using that to defeat her. Maybe it could have been established that she's a creature from
The Abyss, so we could have learned more about that place while we were at it. Or maybe she's just the most powerful creature from a plane of weird eldritch beings. Heck, they could have expanded her mythos and tied everything together by saying she is somehow related to
Cosmic Larva and
Cosmic Horror! I need a time machine and a job at Wizards...