That't our (book nerd) view as to what PJ did with the content that was the basis for his films.
Hollywood suits don't care squat about any content except one: the content of the kitty, aka box office receipts.
What are those numbers?
LoTR $ 2.98 billion box office gross, budget $ 281 million
TH $ 2.93 billion box office gross, budget $ 655 million
Target audience? Certainly not us. Perhaps
the one time anyone was nervous about the "bookies" was at the premiere of "Fellowship" in December 2001. They had already done principal photography for all three films (no idea what portion of the total budget that meant), so a hostile reaction might have put the whole enterprise in jeopardy. Book sales for LoTR spiked in that time 2001-2004, not sure if the effect was as big for TH, it definitely being a children's book. But the core audience was and remains the film-only crowd.
And, like it or not, PJ's stuff is the gold standard for film or TV visuals for
Middle-earth (and probably a lot of other stuff, too). Even if he's not involved in any way, the Amazon crowd will be unlikely to try and reinvent Middle-earth from scratch. They might do some borrowing from more recent stuff, like GoT, or ... what's that stuff I keep getting reading suggestions about? ... "Vikings", I think. Having seen neither, others must judge if these seem to have been influenced - or not - by PJ's Middle-earth visuals, or by each other ...