While technically true, I feel that this is a bit of a misnomer. Even though LotR is usually considered the archetypal example of "epic/high fantasy", based on the other most popular works in the genre I think that LotR (and the rest of the non-Hobbit legendarium) is better described as "myth", and I think that fans of epic/high fantasy coming to Tolkien are often disappointed for this reason.

For me the disappointment went the other direction - I read LotR first, and then I went on a fantasy reading binge and was repeatedly let down because I couldn't understand why none of it felt like Tolkien.