Oh I forgot to talk about dispel magic. You're correct that in RAW, dispel magic only ends spells.

However... it's a common ruling of DMs that dispel magic can suppress ongoing non-spell magical effects or the effects of items etc. This is also backed up by a myriad of examples in published adventures where there's some ongoing magical effect, and the book says "if you cast dispel magic on this, it stops the effect for a while" - including things like magical wards, traps, items etc etc. So... the rules don't say that anything would happen, but the wider set of examples in adventures implies that something could happen, and it's up to the DM what they want to do with this.

This is one of the areas where the strict RAW has never remotely resembled what I've seen at tables, both at my own and online or in shows.