[Mr_Sandman]

I would allow Blink to move the mage out of range for all the subsequent attacks from that opponent, unless the opponent had a step and/or reach that would allow them to follow and hit the mage.

From a game perspective, retreat, even though it doesn't move the defender out of range for subsequent attacks from the same attacker, does give a bonus to to defend against them. The spell description for Blink says it is a dodge that automatically succeeds. That should at least be better than a mundane retreat that only gives a bonus to defense.

Dodge and Drop doesn't let you reach cover from the attack being dodged, but explicitly does for subsequent ranged attacks.

From a simulationist, 'modeling the fight' perspective, a retreat takes time as the defender physically moves backwards throughout the attacker's turn. So all the attacs can happen while the dodge in still in progress. It's the motion itself that give the bonus to defenses, not just that the defender end up further away. A Blink is an instantaneous magical teleportation, and it's hard to imagine how it would let the defender avoid taking the first hit, but still be there to take the subsequent ones.