I have the Folio on my 11" IPP (2018). When the magic keyboard (the "cantilever" one) came out I bought one for my 12.9" IPP (also 2018) I like the magic keyboard better, though it is a tad heavier -- but not really that noticeable. I like that it has it's own USB-C power port (on the left side, on the base) so you can still use the port that is on the "bottom" of the IPP (on the right side when in landscape mode).

The magic keyboard feels like a real keyboard to me, while the folio -- while a step up from "toy" keyboards -- doesn't have the same feel. I am not usually a trackpad user but there have been times when the trackpad on the magic keyboard has come in handy...