An interesting theory. However, let me play devil's advocate for a moment.
Whether or not the old gods exist in this world, their presence hasn't been felt for millennia at least, or perhaps they were never truly there in the first place. Creatures like Fenrir are a one-off entity; should he fall, that's it. No more Fenrir. And should we consider giants and jötunn god-spawn, they would either fall into the same category as the old gods and be absent or be mortal, who can be killed albeit with some difficulty. Let us imagine that all of them - the gods, the one-off monsters, the giants - are absent from the world, or maybe never existed in the first place. We're left with the creatures like fairies, vampires or ghouls.
While the undead (namely the things we call zombies) may have strength in numbers, imagine that in this world, they are slow, dumb, and infect through biting. They have no more individual strength than your average human (or whatever the individual's base species was) and cannot build things, cannot climb. With enough effort they could be corralled and contained, and therefore no longer a threat.
Imagine that in this world, a folkloric creature by default stays in the area where its legend came from. For example, if the Mothman were a part of this story, his species would be most dense around the Point Pleasant area in what we call West Virginia. The wendigo would be found mostly in the northern forests of Nova Scotia, the East Coast of Canada, and Great Lakes Region of Canada. Individuals of each species can travel to other places, but as a general rule they do not.
Finally, imagine that a great number of these creatures aren't sapient, aren't self-aware. That leaves a smaller number. It's these, these creatures with human-level intelligence, that I would like to learn about. Centaurs, werewolves, succubi, anything that's smart enough to participate in politics as we know them. A dog couldn't run for office, so the Loch Ness Monster probably couldn't either. It's not a brute-force power struggle necessarily, though of course there are some whose abilities would be helpful.
So the base question, with this information out there is thus: In this world, where some semblance of civilized society exists, which sapient species, if any, would be the dominant one?