Well, you're going to find a couple schools of thought here:
On the tropes side of things, copycatting is part and parcel of the genre. It's not a typical B-list genre fantasy if it doesn't have elves and dwarves! Does that make it generic? Sure, maybe. But for many fantasy fans, the generic setting and/or generic protagonist power trip is actually the point. I know I sure enjoy it. It's basically literary comfort food; sometimes you just want to see the bad guys get beat.
On the originality side of the argument, fantasy is about possibility and imagination. It's about that sense of wonder you get from experiencing life in a new place with different rules. Here we want things to be fresh and new, to contain new ideas that inspire new imaginings of our own. We're not here for comfort food, we want the next new world to explore!
I don't think you should assume either side is invalid, or that they're mutually exclusive either.