I finally got through The Hobbit that other day (theatrical, not extended)
TBH, I'm not sure I understand all the hate, it's really pretty good.
Effects are nice, sound is awesome, acting is a bit cheesy, but we are talking pixies and goblins, mi'lady and 'from whence it came' here anyway.
Maybe if you are a lore purist it rubs u the wrong way idk?
I'll watch it again in full extended mode when I get a 4K TV
It's been awhile since I've seen it, but what I recall is that they took a book that's only 300 pages and turned it into 9 hours of film by adding in a lot of filler and dragging things out that didn't need to be. Then they added a lot of cartoonish, over-the-top action sequences that make the films difficult to take seriously.