Speaking to Digital Spy, the Rocky IV and Universal Solider star suggested that Hollywood has gone "overboard" with superhero adaptations and visual effects-driven blockbusters.
He said: "It's evolved in a direction which is somewhat entertaining but I'm not a big fan of too much - everybody's an action hero. It's gone a little overboard. Everybody's wearing a suit, everybody has super powers."
Lundgren, who reunites with Sylvester Stallone on this week's The Expendables, explained that modern action heroes are not as impressive in the flesh as those from the '80s.
"In the old days, if you showed up in person people were looking up to the actor, not just their character," he said. "Arnold in real life, Sly in real life, maybe me. It was, 'Okay, the guy was for real'. Now it's not like that anymore. Maybe there's a little demand for that now - people feel like, 'Okay, let's see some real guys'.
"Maybe we'll go back and you'll find more of those people. [Jason] Statham is a bit like that - he's got charisma in real life which is unusual. I hope it goes back that way."
Asked if he will be back for a possible Expendables 2, Lundgren replied: "I don't know. I know Stallone likes franchises so maybe he will do it that way and maybe he will find another enemy who can be annihilated!"
On the prospect of action icons Jean-Claude Van Damme and Steven Seagal joining the follow-up, he replied: "There's a certain risk that they will be brought on - they belong in the group and people will miss them."
> Click here to read our full interview with Dolph Lundgren