Generally speaking, the issue is that people relate to people on an individual level. Starting out with this bird's-eye view of things that happened to ostensibly faceless individuals who aren't present in the story just kinda... doesn't matter to the audience.
I know the general advice in writing circles is 'don't do exposition dumps', but especially when you're doing a very fantasy-focused story, sometimes they're just unavoidable: you NEED information to be given to the reader in order for them to understand what's going on.
The problem with the fantasy lore dump intro isn't that the lore dump is happening, it's that it's happening before I have been given any reason to actually care about what's going on. No characters to latch onto and make me interested in what's happening in their world.
Fantasy novels from the last decade or so tend to have figured out a way to do this more effectively, so if you want some in-depth examples of ways I think it can be done way more effectively I'd recommend the Stormlight Archives by Brandon Sanderson, the Autumn Republic by Brian McClellan, or the Cradle series by Will Wight.
All three of those series do the same trick of starting out on a very small, focused, individual vignette/mini-story featuring at least one main/central character, that really grabs the reader's attention and makes them interested in what's going on, then after you've been given someONE to be interested in, there's a lot more wiggle room in telling the readers about someTHING to be interested in elsewhere in the lore/history of the world.
Sometimes it's internal monologue placed elsewhere in the story, other times it's through having characters who don't know about a situation getting the exposition dumped on them by a teacher/mentor character, sometimes it's through oblique dialogue hints being given out piecemeal, sometimes it's a combination of all three, but the key difference is that the reader has a character in the universe to care about, which makes them actually pay attention when you start naming off fantasy kingdoms, historical figures, and mythology/magic terms, because now the reader actually knows someone who will be affected by all those things.