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?
LotR in general suffers a bit from having defined a genre, if you've spent your whole life taking in what's been built upon it from every conceivable angle, when you finally get to what set the standard all the elements and plot points feel cliche and simplistic.
I saw them in theaters. I'm 32. I didn't really like them then and that never changed for me upon rewatches.
Well then, to each their own.