I read like a couple of pages, and upon seeing Gandalf (with another name), and the same plot already given, I stopped reading. I guess it's a complete ripoff. And I imagine he's made a lot of money on this ripoff...
Creating everything in your world might be very difficult. You'd have to come up with something that seems authentic in that world, and not completly absurd or laughable. The creatures need names, description, backstoy maybe etc. That's why there is so much borrowing of material in the fantasy...
My top 5 fantasy books would be:
1. The Name of the Wind. Phenomenal book, really catches your attention and locks you in.
2. Game of Thrones. Not much to say. Awesome.
3. First 5 books of the Wheel of Time series.
4. LOTR.
5. Harry Potter/ Malazan book of the Fallen.