I like that they didn't toss in elves and dwarves and make a game Tolkien would have sneered at. Fantasy tropes are over done.
Don't mean to jump on you, but FE *is* using basic fantasy tropes. Just because they aren't called "elves" and "dwarves" doesn't make it any different. You can basically substitute: elves->pariden, men->altar, dwarves->gilden, wood elves->tarth, orcs->yithril, evil men->kraxis, undead(ish)->resoln, and demons->magnar. I'm fairly certain that Tolkein would have sneered at FE, and I wouldn't call the setting here "cutting edge" by any means.
That said, a 4X strategy game is not the place for cutting edge new fantasy, and I'm quite content with the way things are. It seems to me that a lot of people/reviews are complaining because even though the basic fantasy tropes are there, they're not in an easily recognizable form, and therefore it takes more work to fill in the gaps with your own imagination. And the fact that all the races are visually very similar doesn't help.