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?
See I'm the opposite, I don't like most fantasy, I find it corny, but LOTR speaks to me kn a different level. I believe this is because where most fantasy set out to copy or expand upon Tolkiens work, Tolkien never set out to write fantasy. He was a linguist, specifically in Anglo-Saxon Old English, and he lamented that the Norman's essentially eradicated Saxon mythology and that so little survived. So LOTR is his attempt to rectify that. It's not fantasy it's an English fairytale. In an early draft of the Silmarillion, am Anglo-Saxon warrior sales to Valinor to speak to the last elves who recount to him the stories written in his books. So Middle-earth isn't just another fantasy world but OUR world through the eyes of our ancestors. But I fully understand why people don't get into it.