Nothing is a masterpiece - a real masterpiece - till it's about two hundred years old. A picture is like a tree or a church, you've got to let it grow into a masterpiece. Same with a poem or a new religion. They begin as a lot of funny words. Nobody knows whether they're all nonsense or a gift from heaven. And the only people who think anything of 'em are a lot of cranks or crackpots, or poor devils who don't know enough to know anything. Look at Christianity. Just a lot of floating seeds to start with, all sorts of seeds. It was a long time before one of them grew into a tree big enough to kill the rest and keep the rain off. And it's only when the tree has been cut into planks and built into a house and the house has got pretty old and about fifty generations of ordinary lumpheads who don't know a work of art from a public convenience, have been knocking nails in the kitchen beams to hang hams on, and screwing hooks in the walls for whips and guns and photographs and calendars and measuring the children on the window frames and chopping out a new cupboard under the stairs to keep the cheese and murdering their wives in the back room and burying them under the cellar flags, that it begins even to feel like a religion. And when the whole place is full of dry rot and ghosts and old bones and the shelves are breaking down with old wormy books that no one could read if they tried, and the attic floors are bulging through the servants' ceilings with old trunks and top-boots and gasoliers and dressmaker's dummies and ball frocks and dolls-houses and pony saddles and blunderbusses and parrot cages and uniforms and love letters and jugs without handles and bridal pots decorated with forget-me-nots and a piece out at the bottom, that it grows into a real old faith, a masterpiece which people can really get something out of, each for himself. And then, of course, everybody keeps on saying that it ought to be pulled down at once, because it's an insanitary nuisance.
As I stated earlier, I do not believe there is anything inherently wrong with even the most overused elements of epic fantasy. Magic swords, dragons, destined heroes -- even dark lords and ultimate evils can legitimately be used in literature of serious intent, not just mocked in satirical meta-fiction. To claim that they cannot would be much the same as claiming that nothing good can ever again be done with fiction involving detectives, or young lovers, or unhappy families. The value of a fictive element is not an inherent quality, but a contextual one, determined by its relationship to the other elements of the story it is embedded in.In other words, whether a scene in which a dragon is introduced is affecting, amusing, or agonizingly dull depends primarily on the choices made by the scene's author. I say "primarily" because dragons have appeared in thousands of stories over the centuries, and almost any reader may be presumed to have been exposed to at least one such. The reader's reaction will naturally be influenced by how they feel this new dragon compares to the dragons which they have been introduced to in the past. (Favorably, one would hope. A dragon must learn to make a good first impression if it is to do well in this life.) Such variables are out of the author's control, as are any unreasoning prejudices against dragons on the part of the reader. All that can be done is to make the dragon as vivid and well-suited for its purpose as is possible. If all the elements of fantasy and fiction in a work are fitted to their purposes and combine to create a moving story set in a convincing world, that work will presumably be a masterpiece.