This isn't far from the truth - high fantasy as George Lucas experienced it while growing up, maybe. The problem is that the way fantasy is told has grown by leaps and bounds since his youth. After the publishing of The Lord of the Rings and the sudden explosion of the fantasy genre, fantasy moved rapidly away from the broad strokes sort of method of myth-telling into a far more realistic-style of universe creation. Part of being a visionary director is recognizing how the landscape of the audience has changed from your own experiences - or perhaps, how it will change in the future. Lucas had that reputation once, but I'd say the prequels destroyed that thought.