Read on to see their level-setting responses…
That’s a softball. No. Literary sf and fantasy are not respected by mainstream critics or the mainstream professoriate. Neither needs mainstream approval, which would diminish (and perhaps destroy) both. Just look at what they DO respect. Look at what poetry was as late as the early 20th Century, and what it is now.
Now and then I’m asked at cons why I don’t write fiction of the respected sort. You know, he is a professor and she is a professor and they are having adulterous affairs, and they are almost overcome with guilt and angst, and there is no God, and scientific progress doesn’t enter into it, and just about everybody in the world is upper middle class.
When that happens, I ask the questioner abut Martin du Gard. Have you read him? Have you heard of him? Invariably the answers are no and no. Then I explain that Martin du Gard won the Nobel Prize for Literature in the year H. P. Lovecraft died.