The technology would be interesting, but if the movie is crap - or great - then the technology is secondary.
As evidence consider video games, which, when I was young, were made of huge blocks. Today we have almost reality, and yet some of the games are still unplayable (not that I would know).
If Peter Jackson filmed LotR in 3D, it may have looked even fancier, but we'd still have Arwen being called a "she-elf" at the Ford...
