Yes but if the Blood Elves can afford having Magister's Terrace purely as a museum for their magical artifacts, it means they feel their situation on Isle of Quel'Danas is safe and the Sunwell is well protected against all external threats so that they don't even have a need for a big number of Magisters to be there in their base of operations to control the zone against dangers, so that can still be good news for the Blood Elves after all
The area above Stratholme (Old Quel'thalas) could also be a nice and ideal zone for studying fel magics without too much danger, but then again Blood Elf Warlocks and Demon Hunters would feel like they are unfairly given the same ugly Void Elf "treatment" (being exiled from their homeland because they are dangerous to their kin) if their new base of operations is actually moved outside the kingdom, and that would be a bad feeling for Blood Elf players who consider themselves loyal to Silvermoon unlike the Void Elves, so I would still prefer to have the Warlocks-Demon Hunters zone inside the borders of Quel'thalas I think...it's true fel magic is dangerous and can corrupt Sin'dorei people and buildings all over again, but it would still not be as bad as what the Void can do with the Sunwell after all....