i agree except in terms of pace. that first film moves at a slow pace iirc. not much is happening in the first half an hour. you're just being introduced to a pastoral hobbit village with a mixture of shots, long and short, and world-building intent. the point being that it's possible to move at such a "slow" pace and accomplish something that never feels slow in hindsight because it develops over the next two and half hours as it should. i find a lot of tv shows have problems with pacing. everything is kind of atomized, every sequence a kind of standalone event. there's not much of people just sitting around doing "nothing", which is valuable when it comes to contrast because it builds and clashes with later developments as things "quicken". hitchcock and kubrick knew how to do this well. lumet, too. also ridley scott, at least in alien and bladerunner. think of the wire, sopranos, and GoT and how much time was given over to the "banal". invaluable when it comes to contrast but not standalone event type scenes.
on the other hand, a lot of lotr is steeped in world-building and visual representations will try to live up to the pictures people have in their minds from having read the books. in short, it's basically impossible to please everyone with source material like this with the exception that they did manage to more or less do that the first time out with the films, excepting some niche quarters.
i would have preferred a five film format instead of a five season format. but again, too soon to judge.