Oh well, musical taste can be SO different.
Lets get back to the late 80ies - still the "post-star-wars-era" was not over. "Return Of the Jedi" was only 3 years ago in the theaters and a huge success (like John Williams score). I think like me some other readers here "became" film music fans by falling in love as little boys with John Williams most famous score in the late 70ies when listening to it at the theaters ;-)
The director/producers etc. were still expecting for every fantasy/sci-fi stuff good filmmusic has to be similar to STAR WARS, of course. Bill Conti was no exception when he was hired for "Masters Of The Universe" 1986, I presume. Remember for example Craig Safans "THE LAST STARFIGHTER", which may have suffered from the same problems in 1984 (but is at least as good as MOTU in my opinion).
Of course there are rip-offs from Williams themes in the MOTU score, especially in the "Skeletors march" theme. Holsts "The Planets"? Oh well, that may THE classical suite which had the most influence on composing film music in the 80ies - hard to avoid it...and why isnt CLIFF EIDELMAN being bashed for overusing it in "Star Trek 6"?
To be honest, I dont know the "TV theme" (or the animated TV series) and I am no "Masters" fanatic, but I think Bill Conti succeeds in giving the (unintentionally funny but generally well done for a trash movie) film the "epic space opera" scope in his music. The action music blows you away (I abolutely love the "action trumpet" sequence in "Kevins Plight - After Them!"), there are many thematic layers, some really beautiful melodic structures ("Good Journey"). Considering that Bill Conti had only two weeks for composing its a great fantasy score satisfying every fan of the "post star wars era" film music in the "tradition" of this very special time.