That is fine. But suppose say the magnet starts moving at instant t=t1.
So the current would be induced in the coil at t=t1+t and the magnet will start experiencing
resistance only at t=t1+2t.
But what about the total energy of the system at time t=t1+t. At this time we have a moving magnet which has not experienced any resistance and has not lost any energy and also the current induced in the coil.
Should not the whole process act as a way of energy transfer between the motion of magnet and the coil? should not the moving magnet lose energy as soon as the current is induced in the coil.