Sad.
I suppose you would have preferred each film of the Trilogy extend to at least 8 hours each to remain true to every line, jot, and tittle of the books. That way nobody except the most faithful Tolkien fanatics (about a dozen people in all) would have enjoyed the films.
Personally, I believe Peter Jackson did a great job balancing the task of keeping the films somewhat faithful to the books without making them overly long and boring while rearranging events in such a way to make them fit better in a film and the mainstream movie market.