Sure.
Currently, the only magic items in the spectre teir is the spectre armor. Everything else is tools with really long reach, which is what I based this sword on. you (and a few others) also seem to be forgetting all the pre-hardmode tiers, which don't follow any kind of rule like that. Meteorite is used for magic armor, swords, a magic weapon, a ranged weapon and a bullet. Jungle is used for magic armor and two melee weapons, but no ranged or magic. Lastly, hellstone is used for melee armor, two melee weapons, two ranged weapons, and a summoning weapon.