Quote Originally Posted by Blatant Beast View Post
Shadow Blade has a range of Self.
The PHB, pg 202, states the following under the Range entry in the Magic section: “ Most spells have ranges expressed in feet. Some spells can target only a creature (including you) that you touch. Other spells, such as the shield spell, affect only you. These spells have a range of self.”

The literature itself, would seemingly refute your theory RSP.

The Range of “Self” also explains why the caster can reform the blade of shadow after throwing or dropping the blade.
Makes sense to me. We also have never had a case where someone wasted a Dispel Magic on Shadow Blade.
Quote Originally Posted by Blatant Beast View Post
Seems pretty straightforward to me. Eyebite imbues the caster with a multitude of powers, which the caster can then use on other targets. Shadow Blade, likewise, imbues the caster with the ability to summon the blade, which the caster can use to psychically Benihana someone.
Yes. When one doesn't overthink things, it is pretty clear.
Quote Originally Posted by Witty Username View Post
All spell effects are created at the point of the caster.
Not quite. Sacred flame comes down on whomever is in range; all the caster has to be able to do is see them. But that's an edge case. Your general point is pretty solid.
Quote Originally Posted by JackPhoenix View Post
If you want to dispel SB, you have to target the blade itself.
That makes sense, since the magical effect is shadow blade.

Now let's think through this one step farther: if you walk into an AMF with shadow blade up, does it disappear? Yes. The magical effect goes away.
Quote Originally Posted by Zuras View Post
I thought the whole reason Dispel Magic uses the phrase “magical effect” was to avoid this sort of confusion.
Yes, but one cannot stop people from confusing themselves.