These movies are the perfect example of a studio system mandating three terrible movies with expanded plodding plotlines when a two-part adventure would have worked just fine.
The Hobbit movies suffer from what I like to call 'epic creep.' Every fucking thing has to be crucially important, epic and world-changing dangerous. Shoe-horn in extra characters from the original trilogy, add a bunch of new stuff not in the books, etc.
It's a simple story about a hobbit going on an adventure with a bunch of dwarves, and coming home. Make it a fun adventure about a hobbit going on an adventure with dragons and spiders and a magic ring. Don't make it have to tie in with the grand lord of the rings trilogy and shoehorn a bunch of nonsense.
I really liked the first trilogy, hating the hobbit 'trilogy' so much.
Also the 48fps thing makes everyone look like they are on the set of a spanish soap opera with terrible makeup on.
end rant