I'd be happy with generic fantasy, but we're not even going to get that. Ultimately, D&D's depiction of fantasy is VERY narrow. Greyhawk. That's it. Even the steam-punkiness of Eberron pushes the envelope of D&D too far for some people. 4e "destroyed" D&D because there were silly healing surges and AEDU powers.
So, basically D&D is Greyhawk. If you don't want dwarves, elves, halflings, and orcs in your fantasy world, but instead want anubi, basti, tethru, and sebeki, you're not playing D&D any more. Go find another rpg. If your world doesn't operate on Vancian magic, go find another system. If you have steam engines and gunpowder in your world go play something else. Is that it? What happened to creativity? What happened to the DM's freedom to create his own campaign world? I guess we can only create our own D&D campaign world, only if it's a Greyhawk clone, is that it?
My venting seems purely academic, but I don't think of D&D as Greyhawk. I have never even played Greyhawk. I have mostly played in worlds created by the DM running the game. I've played in a Thundercats campaign, a Lost World campaign, numerous save the world campaigns, rare magic campaigns, I've run campaigns with flying castles, continents encased in magical barriers, worlds without dragons (*gasp*), and I've populated my current current campaign with all manner of star wars races, flying ships, and alien cultures. This is what we do. This is how we play. We borrow/steal ideas from books, movies, games, and all manner of fantasy culture, add our own creativity, and come up with campaign worlds, then tell an epic story. To me, THAT is the essence of D&D. Not dwarves, not elves, not vancian magic, not high fantasy. The major commonality is that D&D characters are heroes, whatever universe they may be dropped into.