I'm sorry, but this movie suuuucked.
I'm saying this as a huge fan of Lord of the Rings. The movie sucked, and was awful.
First I'll say what I liked about it. The Gollum part.
Now, what I didn't like.
-Worst cast movie of all time. All the good casting decisions are the ones made ten years ago, like Gandalf.
-Higher framerate makes the seams in the CGI and the bad acting more obvious. Some of the distance shots looked blatantly like models and in some scenes it felt like they were auditioning for the part.
-Pacing was terrible and tie-ins to Lord of the Rings were out of place, awkward and unnecessary.
-Goblin king looked super-goofy, reminded me of that sea people king from Phantom Menace.
-All the humor was slapstick. There was no Gimli/Legolas character humor, it was strictly physical humor.
-At times I felt I was watching a BBC TV series
-At no point did I feel invested in a single one of the characters.
I'm not saying this movie is as bad as Phantom Menace, but it is certainly the franchise's Phantom Meance.
*sigh* Yeah, I'm going to see the next two movies in the theater. Damn it.
On the subject of critics, I think the people who really hate them are the people who devote themselves to one genre and love anything from that genre regardless of its quality. I disagree with them a lot, and given a choice between a critic and a friend whose taste I trust I go with the friend. But give me one movie with a 90% on Rotten Tomatoes and one with a 10%, I'd lay heavy odds on preferring the former.