Magic in the Last Airbender Universe?

So, in the first episode "magic" is mentioned twice..

We all know this is the writer's way of putting "bending" on its own grounds completely separate from magic because they don't want bending to be called magic..

But it sorta brings up the question of what actual magic would look like in a universe where there's bending...

So, in your opinion what would magic look like in Avatar? And how would it be different from bending?