This is not necessarily true because both Cassiopeia and Karthus apply heavy DPS.
It's because if you have a homogenous damage profile on your composition (ie, >70% magic damage), it becomes easier to buy one type of resistance to mitigate incoming damage and opens you up to having some picks picked against you that are uniquely good at mitigating certain damage profiles (Kassadin/Galio for magic damage, Malphite for physical damage). In the past it used to be an even bigger concern because you needed an ADC to take objectives or towers but that's not necessarily the case anymore.
Magic resistance items, aside from Deaths Dance, actually usually feel pretty bad to buy so it would in general be better to stack magic damage than physical damage - it's way easier for most champions to stack armor than magic resistance - but it's usually wiser to have a mixed damage profile on your team. Also consider that every champion in the game has lower magic resistance scaling than armor scaling.
That said, you should bear in mind that this is when you are playing in competitive play. In solo queue, having a homogenous damage profile isn't as bad as people make it out to be because your execution on a champion is far more important in most ranks than the composition of the team itself.