This is going to be lip stick on a pig.
It doesn't matter how much money you throw at a project if the story and world you are adapting are not being respected and / or are fundamentally altered to satisfy modern day political sensitivities. That way only leads to it no longer resembling the core and foundations of the source material.
Your in-built fandom / audience is here because they love Tolkien and the world he created, they will reject anything which deviates from that without good reason.
Peter Jackson knew this and played so carefully in that world with his LOTR's trilogy and this is one of the key reasons why it was so successful and generally loved to this day. Those movies in turn have created a generation of fans (ranging from hardcore to casual) and the one thing they all have in common is that they expect this show to feel a part of the same world and naturally mesh with it - they won't care that it is made by different studios. Having Howard Shore on board will only solidify that this is supposed to be the same and will make any other changes even more jarring.
This trailer, the articles and the posters are not filling me with confidence that they want to seamlessly realise more of Tolkien's world and stories on screen. It would appear that they have other priorities and are just looking to capture the next fantasy epic like Game of Thrones.