For me - LOTR is the most overblown fantasy series of all time, with GoT coming in a very close scond. One suffers from 'oringality' (people excuse the awful writing and lazy narrative arc because it was 'the first') the other from mass popularity (again excusing the sloppy writing, fairly pathetic plot line, and disastrous inability to finish anything that is started).
Great fantasy - Jennifer Falon, Brandon Sanderson's original work, Patrick Rothfuss - is brilliant because it does not rely on gimmicks, tropes, or cliches to tell a great story. Fantasy, often, is the most narrative-focsed genre (rarely comments on human relationships/life/etc) - so the narrative better be fucking amazing since there's rarely that much more depth to focus the work. I think also fantasy is the genre Modernism left behind - there's very rarely any truly dark, broken, melancholic characters in fantasy (SF is MUCH better that this, IME).
IMO/IME and all that jazz.
I love fantasy, but let's get real - it's trying to do something else then other genres, that's all.