I'm more afraid that the hype won't die down.
And saying that in a few years everyone will forget about it, well, that's just plain fucking retarded. Sure the frenzy will die down, you won't see movie posters all over the place or Frodo book covers or whatever, but I can't concieve of any fantasy or fictional Effeminate that will eclipse LOTR.
The worst case scenario:
The LOTR seriese is the next Star Wars. The movies, being relatively mainstream now develop their own cult following that may even be completely seperate from the books. Authours that don't have Tolkien as their last name start writing their own novels about Middle Earth. In 2029 the LOTR Special Edition is released in which some of the pointyer weapons are replaced with two-way radios or boffle swords ala ET. The Nazgul King swings first*. In 2034 Frances Walsh writes a screenplay for another trilogy that takes place after the origonal movie. Etc.
(* if you don't get it, it's a play on "Greedo Shoots First" which was oddly enough a big point that star wars geeks didn't like about the special adition. In the cantina in the SE Greedo shoots at Han first, but missed, and then Han nails him in the head through the table)