MTG Arena's Reprint Problem: What It Is, Why It Matters and How To Fix It

Core Set 2021 has shown a light on the problem that Magic Arena's economy has handling reprints. Thanks to the return of scrylands and Fabled Passage, a meaningful percentage of rares from Core Set 2021 are cards that you likely already have in your collection, which means that opening more copies has almost no value, and this doesn't even consider all of the lower rarity reprints or the reprint-heavy Jumpstart set releasing shortly. What is Magic Arena's reprint problem? Why does it matter and how can it be fixed? Let's break it down!