It depends on what you can do with the magic.

The usual thing to do is to treat it as modern technology, but while its going to be a more advanced society, it doesn't have to be modern tech.

for example, if what whatever magical thing can be put into....anything....then there is no point to specific materials or forms that modern tech has to adhere to, to function. if you can enchant a ring to do something, why not use rings for everything involving fingers? its just efficient. why not just make flying boots for everyone? the only reason to ride in something would be the social value of sitting alongside somebody and chatting, its not actually needed when everyone can just fly under their own power and talk at whatever destination they get to. while buildings won't need any consistent aesthetic or structure if you have magic to make them function however you want.

magic can quite simply bypass a lot of technology's limitations that we take as normal. you don't need magic internet, you can just connect to peoples minds to communicate. you don't need armor, make your clothes project invisible magical forcefields. breakfast might consist of taking out stored rocks and then transmuting them into the food you want. With magic you might even be able to alter your appearance however you want, making consistent styles and appearances a thing of the past. without defining magic's limitations, your society is going to be unimaginably wealthy and decadent compared to the rest of the world and at the same time looking seemingly defenseless because all its defenses are invisible until someone causes trouble.

so really it all depends on what this blue magic rock can do. if its just an excuse to make anything happen...well you might get modern tech. but you will just probably get something modern technology only wishes it can do. the only limit is your imagination and how flexible your willing to make your magic rock.