The Alicorn Amulet Questions

Slipstream95
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Slipstream/Boofy
I’ve been very interested in that item ever since I saw Trixie using it and I had some questions about it. Like does it become more powerful as its used and user becomes more corrupt or is it just a one time boost with the down side of constantly corrupting the user. How corrupt can it make the being wearing it?  
It states in the wiki that “However, the amulet has its limits, as it cannot perform spells that are considered simply impossible” are you telling me that in a world of magic there is stuff that can’t happen?  
Also, can it be destroyed? Why does it have to be hidden?  
Can non-magic users somehow gain other enhanced abilities from it, like a pegasus puts it on and they’re the fastest and most agile? Earth ponies become the strongest and most durable?  
I’ll probably have more questions as time goes on.
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