Is this based on something Tolkien actually wrote?

I have seen the 1978 classic, not all that long ago (think around 2015-2016), mostly out of interest for the technique used in the animation. It's a pretty early version of rotoscope visuals, and appealed to me for that reason. It's campy and charming, and it does follow the books more precisely, but it lacks scope (for obvious reasons). I did like it though, it has dark and unique nerve to it.

The trilogy makes quite a few changes, perhaps most of all to Aragorn and his arc, but I see most of them as necessary from a narrative and pacing standpoint. I love both the books and the movies (I finished my long overdue re-read of the books about one week ago). Rings of Power is a travesty, I have yet to meet a single person who actually likes it. Most give it a shot doe to the debacle surrounding it, and then simply leave it unfinished. It has very impressive visuals, and the score is actually very good, but the writing, acting, plot, pacing, massive disservice to the lore, and many more things, are just incredibly poor. I was shocked at how bad it was, even with low expectations. I've watched Wheel of Time as well; it's pretty weak, but nowhere near RoP levels. At least I've watched the second season of that, I have no plans to torment myself further with RoP season 2. Some say that it "looks better" than season 1, but that's like saying losing one arm is better than losing both; I prefer to keep my arms if the choice is given to me.

There's one specific theme from the LotR books that I feel like Jackson missed a bit in his movies. The contrast between the simplicity of hobbits and the enormity of the task at hand and the factions involved. In the books there are a lot scenes, especially with Sam, which serve to really hammer home how down to earth (pun intended), innocent, and incorruptible hobbits are as a species. This is further enhanced in the ending with the Scouring; the difference between the four hobbits from the Fellowship and the other small folk is easy to spot. But even here, Frodo remains the most hobbit-like in his sensibilities, by insisting that no one be harmed when they send the brigands running, for instance. He, if anyone, should be corrupted and angry, but still has the mildest heart of the four. In spite of this, I think Jackson made the right choice by skipping the Scouring, and by offing Saruman in Two Towers rather than in Return of the King.

Edit; I can watch anime, but the whole concept and feel of it doesn't properly capture Middle-Earth and its inhabitants for me. It's just the wrong type of story. I loved Record of Lodoss War back in the day, it's a classic fantasy concept, but much more suited to the anime style and structure. LotR just feels like the wrong IP.

Edit 2; can't believe I forgot to add this! I really don't like how they use footage from the trilogy in the trailer. It's off-putting, and it lends a sense that the studio doesn't have faith that the concept will sell on its own rights and grounds. It's a very strange creative choice, and only makes half sense from a marketing perspective. It almost bothers me as much as the music in the Gladiator II trailer.