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Yeah Colbert is definitely a card carrying Tolkien nerd. As am I, and although it's never ideal for IPs to be milked in this fashion, in the case of LOTR I can't honestly say it bothers me. Star Wars, Harry Potter, Asoiaf? Those over milked franchises can fuck all the way off.
But LOTR has such tremendous depth and cultural value that I think it's still got milk to spare. Obviously these won't stand up to the original trilogy, but if they're at least decent, they can easily be justified because they will continue to maintain the cultural relevance of LOTR as a whole and hopefully renew the interest of younger fans. After all, a good chunk of zoomers and beyond have probably never seen the original films, given their prohibitive length and release dates.
The Hobbit films were pretty bad but I'm still happy they exist, and after watching the appendices it's more understandable why they didn't turn out so great. So if they can at least make something better and more faithful than those, I'll be delighted. It's also a good decision to keep the stories rooted to the original trilogy. It seems pretty hard to fuck these up too badly, as long as the writers stay humble. Just fill in the gaps that existed in the original trilogy and don't try to do too much. It'd be cool to get some flashbacks to the scouring of the Shire.
P.S. Rings of Power is absolute trash, I noped out after the first season. So there definitely is a way to fuck it up, but I've already explained why there's reason to hope for the best in this case.
what's the central idea?
Basically there were a lot of lawsuits going back and forth in the pre-production that ultimately resulted in Guillermo Del Toro leaving the as director after nearly two years of planning and developing the films according to his vision. Then Peter Jackson had to step in as director with minimal preparation time and he essentially winged the whole thing. It was originally planned as two films but was expanded to three at the last minute. They were also using all sorts of cutting edge technology in the filming process and the sheer scale of the films would have been daunting enough even with adequate time to prepare.
As per Jackson
You can read a slightly more detailed explanation in the wikipedia article.
the series probably cost so much, it took away money from thier other shows neglecting them. invincible quality animations got more and more worst over the seasons.
It's so frustrating that they will spend hundreds of millions of dollars on a series, but they end up basing it on a moronic script so all that money is essentially wasted. And I'm not even blaming the scriptwriters because I'm sure it's ultimately the fault of the businessmen who have no conception of what constitutes good and meaningful art, but insist on meddling with the creative process anyway.
season 1 and 2 of ROP cost like 2billion each, even DISNEY for the slp they produce dint go that far, actually they got close. because they ran out of budget for like newer shows and movies, the most obvious agatha all along. extremely cheap looking props, and makeup much like with sandman.