I'm inclined to agree with you, except if it's good, I'm happy to enjoy a well-produced bit of fanfiction. If it's bad, I won't bother and I will forget it exists entirely. It's not even like an adaptation of something I love, because they're filling in gaps between the written stories.

Of course, there's a worst case scenario, where they make a film people love, but fuck up the details of the greater story, and I'm the only person who seems to care that they have shat on the legacy. Like they somehow reveal that Gollum was the physical manifestation of Morgoth, and was subconsciously working against Sauron to prevent being overthrown by a lesser evil. That would upset me, but worse still would be if it's a huge success and I have to hear people talking about it all the time, and see people wearing t-shirts with Gollum in black Valar robes, sitting on a throne made out of Sauron's iconic helmet, wearing all the Rings of Power.

Like if that became a cultural touch point, I'd hate it. But that's really the worst case scenario.