I think in 2000-01 there was this aura of what Middle Earth would look like and all, whereas, that has been established by the earlier movies, and now it's just more of the same. Also, PJ had to worry about whether his movies would be a success back in 2000 when he filmed them all, whereas, he was sure it would be at least somewhat successful this time and could take his blatant liberties with the story.
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