@JeremyECrawford @mikemearls can dispel magic undo a druids wild shape (
— James RePass (@jprepo1) January 25, 2016
Dispel magic ends spells. Wild Shape isn't a spell. #DnD https://t.co/aWMRux4zQD
— Jeremy Crawford (@JeremyECrawford) January 27, 2016
Then someone should reword the description of Dispell Magic. It clearly states “magical effects”. And as a druid gains level he can increase the HD of the creature of its transformation just as a higher level dispell magic is required for higher level magical effects. A magical item is not a spell either and dispell magic at least has an effect on a magical item if successful.
It states magical effects as a possible TARGET, but the EFFECT of Dispel Magic is to end spells on the target. That’s it. “Any spell of 3rd level or lower on the target ends.” It calls out magical effects as a possible target to cover things like Wall of Force. You need something to target that is created or acted upon by a spell, but the effect is just to dispel spells.