"Boring" does not equate to a lack of kewl powers in my book. Powers do not equate to interesting either - I'm more interested in exotic cultures being represented and meshed into a believable game world.
These races were interesting when Tolkien wrote about them, evidently, as so many other fantasy worlds have copied them since. They could be said to be overused, arguably, but even second generation fantasy worlds (like WFRP for example), have found ways of making the stereotypes fun to play still. And they are instantly accessible and iconic, to new players at least.
Elves and such are good when they are made interesting.
The problem is the lore is sooooooo overused it is boring.
It's always skinny lofty forest dwelling humans with pointy ears and an insomnia problem. Slight short, round humans with long beards, beer breath, and tradition.
And WotC encourages the same boring player characters over and over with proficiencies and racial ability adjustments.. Does the halfling page HAVE to show a rogue with a blade? Can't halflings be full plate wearing paladins or wizards in flashy red robes?
Dwarf warrior. Dwarf warrior cleric. Elf archer. Elf wizard. Halfling rogue.
And the funny thing is that these races are barely different except in culture. But 95% of all DM use the same cultures so they might as well not be races. They can just be humans from the kingdom of Dwarf and humans from the nation of Elf.
Just like people hate dragonborn and tieflings for being different, I hate human, elves, dwarves, and halflings for not only being similar but for encouraging stereotypes to hide the fact that they are so similar.