Almost no movie matches the book it it based on. The book is almost always better, and LotR is great literature that is virtually impossible to encapsulate in cinema. That said, I feel that Peter Jackson and his team did a fantastic job with the LotR movies.
Jackson clearly loved the source material and tried to distill it as faithfully as he could. He delivers on giving a feel of Tolkien’s world and the major outlines of the story. The movies were a technical achievement of their day; the stand well on their own and they did a great job of introducing millions to Tolkien’s work who never would have read it before.
My kids like to pull the DVDs out a couple times a year and we all end up watching the whole extended edition. They have also worn out a couple sets of the books.
The Hobbit movies were a big let down in comparison.
I thought that the hobbit films could be whittled down to one good one