Worrying. There's little wrong with LoTR but for a core problem in Jackson being too close to the work. He couldn't step back and be self-critical, so they could easily bloat in an effort to include everything, and of course, he couldn't bear to end them, so Return has 6 or so endings! Turning what was Tolkein's leanest book into three films sounds like he can't even detach himself from the script to find his scissors.
I think this was the issue with Kong as well, as you say.