Overall comparison: LOTR as a trilogy cost just below 1 million USD per minute (depends if you compare the theatrical or the extended version), whereas TRoP came out at 1.3 million per minute. The difference isn't as big as some would like you to believe.

With inflation, the trilogy costs 60% more. So that is 1.6 million USD per minute instead of 1.3 million. Now combine that with the entire CGI being hopelessly overworked with all new enormously expensive production and it really isn't that strange to argue that its not THAT much money for what they were trying to do.

And it looked stunning in many places mind you, especially the dwarven city.