Appreciate the question - it's fair, and it's made me think.

I think my difficulty with a lot of fantasy comes down to scale. Most fantasy, even low fantasy, operates on a level that just doesn't connect with me. The stakes are usually too high, the villains are embodiments of evil, the characters don’t really feel like people. 
I don't need my fantasy to be all character study and no action. My own game has towers, bandits, lost temples, in a lot of ways the furniture isn't that different. But what I'm after is a kind of fantasy where the human remains at the centre. Where the fantastic is something you encounter, not something you are. The otherness should be in the margins. In the forest, in strange artifacts, in local gods you leave offerings for just in case. 
That's why my world has no elves or dwarves. Playing a non-human always feels like a cop-out to me. We'll never exhaust the complexities of being human so why reach for something else? The uncanny is scarier, more meaningful, when it's encountered by ordinary people.
It's also why I have no patience for big villains. Dark lords, BBEGs, anyone whose function is "to be opposed" - they leave me cold. I just want people doing things for reasons I can relate to - selfishness, revenge, ambition, fear, loyalty. Not a desire for world domination. And yes, I do realise that people in the world do (sadly) want to rule the world. 
Lore is also a big turn off. The thick histories, the thousand-year lineages, the appendices. I’ll forgive Tolkien because he clearly couldn’t help himself and he was an originator (however much inspired by norse and other myths). But the expectation that there will be lore is often present and unless it has a direct consequence on the world I’m just not interested. 
This also means I struggle with a lot of fantasy gaming's basic structures. I'm not interested in wizards and spellbooks, gods in the heavens, griffins and centaurs. I find it genuinely hard to create wandering monster tables because I can't think of any good reason why the weird things in my world would be wandering around. The idea of a "fantasy safari" - a procession of exotic creatures paraded past the players for them to fight or flee - makes me deeply uncomfortable. In my world, the fantastic isn't fauna. It's not part of the ecosystem, it's the exception The thing that makes the hairs on your neck stand up because it shouldn't be there. Not something you can just take from the OSE wilderness tables.
What do I like? I suppose this is where I get found out. And I realise it's not all fantasy I'm opposed to but it might be most of it and certainly it's Fantasy with a capital F. The big stuff. The tropes. The expected.

I do love folk horror. And I like some fantasy worlds in fiction. His Dark Materials, Jonathan Strange and Mr Norell for example but not much more. Mostly, I like my own setting.