Feel free to share anything about Magic Carpet (1994) here!

I played this one a lot. The 3D Mode is indeed useless. But from the technical point of view the graphics engine is very good for such an "old" game. I couldn't play it in high resolution at the date of release because the system requirements where extremely high for high res mode.
By the way. In multiplayer mode it was more a tactical game than a shooter because human oponents allways attacked the ballons who carry your hard earned mana to your castle. So you had to protect them and exterminate you enemy.