Why Magneto's Evil Scheme Sucked
The X-men comic series has been delving into the concept of alternate time lines for decades, and one of the more recent examples of this shows up in the Second Coming arc, in that robots from the future are sent back in time to get rid of one mutant who is believed to be the key to a chain of events that will end up with the world being almost destroyed by an overabundance of super-powered individuals (not sure if they specified mutants).
You might be wondering why having a large percent of the world's population posses superhuman abilities is such a bad thing. The answer is very simple: A large amount of people are irresponsible, selfish jerks. Especially when they're given a lot of power (it corrupts, etc.).
Imagine the cast of Jersey Shore if they had super powers. You think they'd fight crime, save lives, or do anything that could possibly count as productive? Hell no. They'd do stupid crap like throwing cars at each other and cooking entire cows with their heat-vision and brainwashing entire mobs of people to get the same horrible tans as they have. Well, I hate to break it to you, but there's a frighteningly large amount of people in the world that would behave exactly as stupidly as they would, and it would be complete and total mayhem. For every responsible person with super powers (the type that would actually run around in capes and right wrongs and fight crime, etc), you'd have at least four others that would rather cause problems with their powers than solve them.
So in the movie, Magneto wants to give normal people super powers, so they'll know how it feels to be a mutant. Kinda makes you wonder if he bothered to think about what would happen afterwards. I mean, not only would he have a swarm of pissed-off new superhumans out for his blood, but it'd also spell the end of the world as we know it. Remember how much damage World War Hulk caused? Like that, but way worse.
Leave it to Magneto to overestimate the human capacity to empathize against their will.