I don't think it's possible to cite a single movie as "the last classic Hollywood type movie" where its focus was entertainment and had movie magic feel to it, but I do think you could make a general list.
Some I'd throw out there for me are Mask of Zorro (1998), the Transporter (2002), the first two Harry Potter films.
What about you guy's. What's your personal list of movies that were sort of the last of that era where movies felt like movies and had something special to them?
The demarcation point isn't in action or drama films. You can really tell when the woke mind virus completely infected Hollywood because it was that which made them terrified to produce any actually funny comedies. After Get Him To The Greek and Horroble Bosses, which weren't hysterical but at least had their actually funny points, not a single real, funny comedy has been released by a single Hollywood studio. Not one. They're terrified of it.
Remember when action movies had huge dudes in them, and not 90 lbs girls throwing people around? And boobs used to be in movies.
Another great genre from 80s and 90s is the slasher