That is not the same as regaining your Magic. Your Magic is still capped out by your lost Essence. Essence can be restored, but only via this one, incredibly expensive, incredibly rare procedure. And it's been that way for five editions. Feel free to house rule it however you want, but be aware that you are stepping on some rather holy ground in the world of Shadowrun.
Holy ground? I can't conceive any reason why a setting-specific concept would be too taboo to talk about. What's the point of a shared universe if we can't discuss what that universe is? However, I do encourage anyone who would rage out at the notion of discussing the setting to just ignore me.
It's still in the books that your essence
can be restored. That's part of canon now, has been since 4th edition. Considering that it
is canon that no one really knows what essence is in SR, this leads me to believe that there may be other untapped methods for the same process. What I'm interested in seeing is where in the fluff, fiction, what-have-you directly supports or explains what essence is. I don't think that supporting material actually exists.
The SR5 book does say "When it's gone, it doesn't come back." I don't consider this to be important, because the core book is myopic in it's scope of time - it also don't reference Aging rules, or State of the Art upgrades, or long term health effects.
Finally, without a good, in-depth explanation of how essence works, it falls to the GM and the table to decide what the long term prognosis of essence loss is. In my case, I'd allow a character to regrow essence over a sufficiently long period of time (again, out of the scope of actual play). I think it's in the flavor of how I run my games, and what aspects of the setting I choose to show.
It's not really something that needs to be mulled over at all... It's not just a game balancing issue, it's a core component of every single aspect of Shadowrun for the last 25 years.
The reason essence is worth mulling over is
exactly because it's one of the great mysteries of the 6th world, and has been for the life of the game. If you don't consider it worth discussing, why would you discuss it?