Well, Mike, I'll make a few points that (surprisingly) haven't been made yet.
First off, a magneto wouldn't have helped you. The ECU would've quit, or else the fuel pump (I suspect what actually caused the engine to stop running). Ignition does you no good without fuel delivery. So, you would've needed a magneto as well as mechanical fuel injection or else a carburetor.
There are two real reasons why modern cars can't have magnetos. First is cost, and second is emissions. Distributorless ignitions (originally coil packs and then in the late 90s/early 2000s moving to coil-on plug) actually cost significantly less for the OEMs to produce than distributors. The components are much simpler, just electrical coils. When Ford went to COPs from the coil packs, the cost savings from eliminating spark plug wires alone paid for the entire program the first years. Ultimately the electronic ignition is far more reliable than distributors or magnetos.
As previously pointed out, you can buy magnetos still and they're the preferred ignition system for some real high end dragsters where the internal cylinder pressures are extremely high and the mixtures are very hard to light off because they're able to produce a higher powered spark the way they're designed. Last I checked one of those magnetos costs upwards of $2k, just for the single magneto. That's a hard sell in my opinion, and even higher than it costs for our aircraft.
I'd have no interest in putting a magneto on a car and I'll take the rare failure like you had for it. In an airplane, the equation is different and I'm fine with magnetos because the failure modes work well. If I was building an experimental might do like
@Ravioli and go with dual electronic ignitions, but I would also design the electrical system such that there was redundancy and different busses there such that an electrical failure wouldn't turn into an engine failure like you had.