I wish they had been more bold in staking out a new tone. Instead it feels more like content cut from Jackson's better films, with mostly boring characters and plot that doesn't really move forward.
Imagine something that follows the ring-smithing process but with the tone of Primer between Annatar and Celebrimbor. Galadriel in something plotted and shot like a Western war film instead of a handful of mediocre martial arts scenes. Durin and Disa but it's a sitcom with Elrond as the crazy neighbor who keeps dropping by.
If you're going to invent, invent.