Completely disagree. I want to read LoTR "ripoffs" as well as watch or read formulaic westerns, and I'm certain a lot of other folks do to.
I have written a couple of Western short stories. and I am currently trying to write another one but it's a genre I have trouble with.
I'd write one as a hybrid with either sci-fi or horror elements; I don't think I'd ever just write a plain Western, though.