Third Person Omniscient - Is it Dead?

People love the classics - Tolkien, LeGuin's Earthsea. Some people really love Erickson.

I noticed that all these authors/works have one thing in common. Third person omniscient POV.

Nowadays, many readers call that "head hopping".

Now, I love third person omniscient. Other examples would.be The Priori of the Orange Tree, Jonathan Strange and Mr. Norrell, and His Dark Materials. But it does seem that this POV is considered "old fashioned". It even seems that some readers assume when it is used that it's a mistake, or poor writing. "The story is not told from the voice of the character".

Is there something which makes third person omniscient effective (not likely to be called "head hopping")? I would appreciate any thoughts on this POV.

Edit: I am including a helpful link to Reedsy featuring a breakdown of third person omniscient POV. https://blog.reedsy.com/guide/point-of-view/third-person-omniscient/