Speaking as someone who grew up on a diet of Edgar Rice Burroughs and Ray Harryhausen movies, I hope there'll always be a place in the world for that kind of stuff. And Raimi's someone I'd put money on to hit it right.
You figure that sooner or later the "Lord of the Rings" films will have to have an uplift effect on the rest of the genre. AS has been stated, this LOOKS pretty lush, if nothing else.
Maybe, just maybe, the higher powers can realize that audiences might be ready for a serious take on a fantasy TV series.
I've never read the books this is based on, but I figure they're only going to use them as the barest shell for this series. Which means that whether the books sucked or not, this will be able to forge an identity all its own (if it wants to).