Is it because I already know where the One Ring will end up? Perhaps the suspense is not as great as it was more than 10 years ago, when the LOTR trilogy was entering its final stages.
There’s also the issue of the Hobbit movies not being as great as the LOTR films. There’s not as much riding on the protagonists, it seems, as there was in the later books and movies. I mean, once you have Sauron and Ringwraiths pursuing you, being tense becomes an everyday thing.
I think another problem is the fact that the Hobbit pictures have been stretched out to three cinematic chapters, whereas the three LOTR books just made three movies. There seems to be a lot of filler in the former films: lots of battle scenes that are fun to watch but aren’t as insistent as the ones in LOTR.
I suspect The Battle of Five Armies will be enjoyable. Just not the instant classic that The Return of the King is.