*Hesitates before entering, takes a deep breath, and plunges in*
As someone who, after reading LotR, hoovered up all kinds of fantasy fiction (some of which I enjoyed immensely, some less so), got into playing AD&D, and failed to finish reading the Silmarillion at first attempt (aged 14), I find some of the opinions expressed here to be somewhat patronising. Is it not double standards to criticise the likes of Germaine Greer for her dismissive approach to Tolkien’s works, yet at the same time adopt an equally dismissive approach to other works of the ‘fantasy genre’? Whether or not someone enjoys a work and sees value in it is a very subjective thing. Greer and her ilk don’t like Tolkien, which is fair enough, but they then go on to attempt to force their opinion on others by ridiculing and disparaging the object of their dislike. Let us not adopt the same approach to other fantasy novels just because they are not for us or because we feel that, in our opinion, they do not match up to the standard set by Tolkien.
Anyway, be that as it may, views, opinions and arguments on a pinhead are being thrown around all over the place here (something that I would never do

). So let’s get back to the facts.
1. Copyright in Tolkien’s published works lays with the Estate and that will remain the case for many years to come.
2. People write fanfic for their own personal enjoyment and for the enjoyment of others, and this appears to be tolerated by the Estate, provided that it is not done for commercial gain (which would most likely represent a breach of copyright in any event).
3. No work based upon Tolkien’s Middle-earth writings is likely to be commercially published or considered in any way authoritative unless authorised by the Estate, at least for the next 40 years or so.
In light of these facts, what is the argument about? Fanfic will continue to be written and people who like that sort of thing will be able to continue to read and enjoy it. No authoritative work will be produced or marketed without the blessing of the Estate. That is a matter for the Estate. It is unlikely to happen, given their approach but, were it to happen, the work concerned would need to be of high quality and very much in line with Tolkien’s intended spirit in order to receive the Estate’s blessing, thus avoiding the ‘cheapening’ the Legendarium with ‘pulp imitators’. So where is the issue?