The thing is, it does not simply provide an alternative power source. One of its defining features is its ability to control the desires of people, which is a demon-like trait. The irony is that it ends up controlling the user... from demonic possession to using blood magic as a quick, desperate solution.
The Warden mage may simply learn it during the course of the main story in the Fade, but we are not privy to the events that led other non-playable characters to blood magic. It's safe to say that they too found blood magic in a similar way.
The stigma surrounding blood magic is well-earned, mainly because of its specific uses—from consorting to demons to allowing the kinds of things that guys like Quentis does. There are a few good reasons to use blood magic, but it's also not surprising that a mage would easily succumb to the temptation of such a school of magic that consumes and controls the lives of others in more ways than one.
As it is, blood magic is categorized as forbidden knowledge, and since every mage has access to the Fade, every one of them is capable of learning it. Not everyone however, is fit to use it properly.
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