You're right.
It'd be no more than an animated feature, and that would take away so much.
Peter Jackson got it as right as anyone could. Any attempt at a remake would far, far short of the mark.
Jackson did as good a job as could be done within his time constraints of not having any movie go above 3 hours.
There is such a wealth of material there, though, that somebody without time constraints, producing a 30-hour series, could mine