So, you could have said around 1970 that the "fantasy genre" was stalled, with so much barbarian stuff (along with precursors or imitators of Tolkien). But is that what the stuff marketed as fantasy looks like now?
So publishers to some extent follow, to some extent shape reader/consumer interest.
There's also the factor of influence-makers, inside and outside publishers' offices and fan conventions. I would assume, without needing to look, that fantasy with a strong "woke" element has been published this year and that more will come. In some cases people buy and read these books because they feel that they ought to, I suppose, or they're curious. Some will be delighted and some will gradually or rapidly decide these things are not for them.
The more publishing comes to look like a department of state, the more stagnant it really will become. If you want to consider fiction that really was "stuck," check out "socialist realism"!
For myself -- I'm glad that, from time to time, new fiction in familiar forms is published, whether by the highly visible publishers or by small presses. I'm not interested in Tolkien imitations, but something new yet familiar, recalling M. R. James, for example, can be nice; I'm thinking of Jacqueline Simpson's
Where Are the Bones?, which works with the M. R. James literary ghost story tradition with an injection of folklore -- the author was president of the Folklore Society, in fact, and has edited some outstanding collections of folktales. Happily the present economic system allows this.
We have to hope that publishing outfits will at least occasionally employ people of taste and discernment who will occasionally see something extraordinary and see it through to publication. Lin Carter used to like to talk about how
The Lord of the Rings was not unprecedented -- why, there had been a number of high fantasy works published before. Yet the publishing firm of Allen and Unwin
did take a chance on something new when they committed to
LotR. Stanley Unwin thought: We'll lose money on this but let's go ahead; it's worth it.
I'm not all that optimistic about publishing, as it seems the big publishers focus on trendy social stuff and on acquiring books that will sell enormous quantities. Too, many of the people in the field will now be grads with college degrees closely related to the field (I think society is over-credentialed these days). There might be less of a "mid-list" niche now. But we can hope.
(1) The "Mid-List": "'Routine Books' of Yesteryear"--Piers Paul Read, Alec Waugh, and more | Science Fiction & Fantasy forums (sffchronicles.com)
(1) Was (Is?) There a Science Fiction "Mid-List"? | Science Fiction & Fantasy forums (sffchronicles.com)