Well... I enjoy badly written Harry Potter fan fiction, but that, I guess, is mostly some form of malicious delight...
As to Tolkien fan fiction, I haven't read a lot of it, but it mostly seems horrible. Those Legolas and Aragorn's love affair things etc are too bad to be even amusing. I have nothing against stories that are set in Middle-Earth and the main characters of which are made by the author and which might have some Tolkien's character as a very minor character. Those are, sometimes, even quite excellent and I must say they resmble this forum's RPGs and some tabletop RPGs I've played. I see no problem with those. And if you ask me there is no moral problem even with the awful fan fiction as long as it's not published.
Last but not least - don't give up writing,
smeagollives, just because you think you're not talented.
You don't need to be born a genious writer and you can't learn if you don't write. So, if you like writing, keep doing it and someday you see you've learned a lot and are a far better writer than you were in the beginning. (And, if I may add, a good place to write ME-related stuff is the BD subforum the Shire in the RPG section, it's worth of having a look at...)