To be fair, there are two Peter Jackson, OG Peter Jackson and drunk own own success Peter Jackson. The Hobbit trilogy crossed the line on this chart. Not as much as Amazon, but it may have got the ball rolling in the wrong direction because it taught Hollywood people the wrong lesson: You can twist the original canon of a classic and make money.
That's true. I was extremely disappointed with The Hobbit, it was nothing compared to the LOTR trilogy. Like you said, a huge step in the wrong direction.