Whatever the budget, the series was a far cry from the trilogy of LotR movies. Apart from some decent actorship here and there, and sword skills, the series is a semi cartoon of epic and spectacular CGI. Judging by the trailer, there's not going to be much change in that sense.
I do wonder what it might have all been if half of all that budget was put into collaborations with game developers and publishers such as Blizzard...
RE: The Lord of the Rings - The Rings of Power makes a spectacular return! Get ready to return to Middle-earth!