Are you happy? Do you have concerns? There's interest?
Personally, I hate Amazon and Netflix alike, and I can't imagine how a profit-hungry and fully commercial-driven industry should do justice to such a lovingly circumscribed story that is actually written for fantasy lovers and nerds. The mere fact that a (divided into 5 seasons) series and no movie or multi-divisor is filmed, suggests evil.
My fear is that, since Amazon is only down to commerce, the series will be very unloving.
In contrast, Peter Jackson (and the rest of the film crew) really worked hard and spent years exploring the topic and the background. Everyone was there with heart and soul. I also found the "Hobbit" filming on the whole, because again I know how much work and thinking behind it.
Now I'm afraid that Amazon (which I can't make friends with anyway) can't do justice to the previous films, to say nothing of the books and Tolkien's creative spirit. You have to approach something like that with love, not with greed.
Unfortunately. And the big problem is that if this series gets a big flopping, it will be even harder in the future to get a license from the Tolkien family.
That's true, of course, but I actually think (though I'm immensely grateful for Jackson's adaptation) that you should respect that as well.
I think the Lord of the Rings movies are great!
Nevertheless, I try the series as unopposed to stand opposite. This series is not that hard for me either, because it does not just rehash the already filmed story. The series will focus on other stories from Middle-earth. Enough templates existed there, e.g. The Simillaron or Beren and Luthien. I've also read that is considered to go on the adventures of the young Aragorn.
It was also considered for the series to use a similar format as in American Horror Story, so each season has its own story.
Personally, I'm looking forward to the new series and try to be neutral and not put too many expectations in it.