I see no issues with having 3 good films here, for the reasons others noted.
Battles will take a lot longer on screen than they do pages in the book just like they did in LOTR. The white council/necromancer stuff will likely get a lot of screen time when it's only eluded to in the book. And there's a lot of history of the war of the ring stuff in the appendices they can weave in,a long with any new things they write in themselves.
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