In 2019, a paper proved that MTG is Turing complete with a legacy legal deck. Live demo with some hand waving: Video "I Built a COMPUTER in Magic: The Gathering by Because Science (2019)". As Ciro Santilli comments at: github.com/cirosantilli/cirosantilli.github.io/issues/42 this was an interest addition to the previous "indefinite infinite loop" e.g. as found in a Four Horsemen combo deck
Ciro had initially Googled for the "4-card limit thought experiment" but he reached: www.channelfireball.com/articles/what-if-the-4-card-limit-was-abolished-in-modern/ "What if the 4-Card Limit Was Abolished in Modern?" by Frank Karsten (2018) and was much more pleased with the mathematical result. Like-minded people.
That links to www.channelfireball.com/articles/what-if-the-4-card-limit-was-abolished-in-modern/ the related article: "The Mythic Invitational's Duo Standard Format Game Theory Optimized" by Frank Karsten (2019) which explains well how Nash equilibrium is naturally reached: if there is any imbalance, someone can take advantage of it, and then it rebalances. Therefore once you've calculated the equilibrium, your best course of action is to pick a deck at random from a list of possible winners.
Of course, part of the beauty of Magic is that we can never really know the full matrix since deck choice is basically infinite. But at the very least it could give good archetype results.
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