There are a few problems with the Hobbit trilogy, other than the fact that it shouldn't have been a trilogy.

First, the action scenes are too long. This is a Peter Jackson hallmark fail. He delivers plenty of action, but the scenes just go on and on and on, and become more ridiculous as the scene drags on. Action scenes should be exciting, not exhausting. He keeps trying to go over the top with these scenes, and then over the top of over the top. Scale it down. Slow it down. Make it more personal.

Second, the third-tier love story of Tauriel and the Dwarf is ridiculous. I realize Jackson and company are trying to work in a love story here, and a female character as well. Why not have a female character we care about, independent of a love story, especially a ridiculous one between two races that hate each other, and are physical mismatches? This makes about as much sense as a killer whale and a dolphin getting it on. I think they could have had a more compelling love story, and character development for Legolas, if they focused more on how Legolas loved and lost with Tauriel.

Third, Bilbo and the Dwarfs carry the story, because it's what carries the book. It felt to me like 2/3 of the Dwarfs were comic relief. There are moments of Dwarf comedy in the book, but these are people who lost their homes and want it back. Show me more about why a dozen Dwarfs would not surrender to an army of hundreds when they showed up on their doorstep. Dig deeper on what motivates them. It needs to be more personal.

That being said, there are some good things that I enjoyed about the movies:

I thought Smaug was done well. I liked the fight between Smaug and the Dwarfs.

I liked the Dwarf set designs in the Lonely Mountain. I liked the battle at the gates of Moria, and Dane Ironfoot.

I liked the scene with Gollum, which was one of the keys to the whole thing working or failing.

I liked Gandalf investigating the re-emergence of Sauron.

Bilbo was acted well. I also liked Thorin.

Overall, it's not terrible, but it could have been better if the scope were smaller, and not as ambitious. The Hobbit is an intimate story of a introverted person becoming involved in a greater world. Though it has epic parts, it's not supposed to be an epic story, like LOTR. I think Jackson was too EPIC in his approach.