I disagree with your assessment.
With all of the unbelievable trashy crap coming out of Hollywood in recent memory, The Hobbit was at least very well done and followed the book as best I can remember. I have read it several times, along with the LotR trilogy since college in the 60’s, and found it delightfully entertaining. I go to the movies to be entertained, not to be a critic. If I don’t like something, I just shrug and say, “Well, I guess should have saved my money and waited for that one to come out on HBO”.
But to say this movie was “terrible”? This movie was by no means terrible. What movies do you normally see that are so “good” in comparison? Much to do about nothing, in my opinion. It is just a movie after all. And about a fantasy world at that.
Some people aren’t happy with anything in the world. Trust me, I know several. They would find something to complain about this movie and most other things in their lives because they see the world through that prism of the glass is half empty and bemoan how it is going to be completely empty soon. Whoa is me! I see the world through the prism of the glass is half full and am thankful for the advantage of even having some water to drink and how I should count my blessings in life and not focus on all the little things to complain about. Including this movie. I enjoyed it. I wanted it to keep going. I can’t wait for the subsequent parts to be released.