There is another element that should be considered, though it does not specifically relate to what I or any other member here might "like to see." This element is, for better or worse, what Warner Brothers might believe a fan, and specifically a casual fan rather than an aficionado, might prefer to see. In other words, what is commercially desirable?
We see this issue in Rings of Power. There is no specific, lore-based, reason to include Hobbits in the story of the making of the Rings and the rise of Sauron. Hobbits were not part of the tale. Indeed, LoTR makes it clear that Hobbits flew under everyone's radar until late in the Third Age. They were included because the showrunners and Amazon wanted Hobbits in the series for commercial reasons. We also see this in Jackson's version of The Hobbit. Elves had a minor role in the story, as written. But the movies "had" to include Galadriel, Legolas and Tauriel.
So, Warner Brother's decisions regarding what subject matter to use, will heavily consider what they believe the casual fan will want to see. This might include Hobbits, Elves, dragons, Balrogs, Blue Wizards and who knows what else...
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Beleriand, Beleriand,
the borders of the Elven-land.
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