The ending of the story is even longer then depicted in the film amazingly... so if you want to characterize merciful editing as "fanfiction"... sure, yes I guess?
It's not ‘merciful’ editing’. By fanfiction I actually mean that. It does not respect the original story's tempo, pacing, scope, or meaning, among others. It doesn't even respect the central story; it's more or less a story with roughly the same characters and major omissions and major additions that distort it.
I've heard people complain that The Lord of the Rings is not like a D&D adventure… and that is exactly the point of it. JRR Tolkien was a religious man in an increasingly secularised, rapidly industrialising society and also a possibly shellshocked war veteran who had survived the terrible years of trench warfare in the Western Front of the Great War.
This is the prologue to my quite dog-eared paperback copy of
The Hobbit:
It's been fifteen years at this writing since I first came across THE LORD OF THE RINGS in the stacks at the Carnegie Lirbary in Pittsburgh. I'd been looking for the book for four years, ever since reading W. H. Auden's review in the
New York Times. I think of that time now —and the years after, when the trilogy continued to be hard to find and to explain to most friends— with an undeniable nostalgia. It was a barren era for fantasy, among other things, but a good time for cherishing slighted treasures and mysterious passwords. Long before
Frodo Lives! began to appear in the New York subways, J.R.R. Tolkien was the magus of my secret knowledge.
I've never thought it an accident that Tolkien's works waited more than ten years to explode into popularity almost overnight. The Sixties were no fouler a decade than the Fifties —they merely reaped the Fifties' foul harvest— but they were the years when millions of people grew aware that the industrial society had become paradoxically unlivable, incalculably immoral, and ultimately deadly. In terms of passwords, the Sixties were the time when the word
progress lost its ancient holiness, and
escape stopped being comically obscene. The impulse is being called reactionary now, but lovers of Middle-earth want to go there. I would myself, like a shot.
For in the end it is Middle-earth and its dwellers that we love, not Tolkien's considerable gifts in showing it to us. I said once that the world he charts was there long before him, and I still believe it. He is a great enough magician to tap our most common nightmares, daydreams and twilight fancies, but he never invented them either: he found them a place to live, a green alternative to each day's madness here in a poisoned world. We are raised to honor all the wrong explorers and discoverers —thieves planting flags, murderers carrying crosses. Let us at last praise the colonisers of dreams.
—Peter S. Beagle
Watsonville, California
14 July 1973
Tolkien regrets the loss of the natural world, of the old magic, old superstitions and traditions (the old forest, Fangorn, the fading elves and the wizards taking their ships East, never to return).
Saruman is the corrupted one, an industrialiser, a forced breeder who farms living beings into soldiers, turning creatures of God (Eru) into the mindless killing machines that are the Uruk-hai, like the men sent to die by the thousand in the trenches around the idealistic Tolkien (including all his friends). In fact, most of the time is spent travelling or talking in the books, and the characters actively try to avoid any fights. War is to be avoided and prevented, nature is to be admired and preserved.
In that context, the extended dénouement is not just bearable: it is necessary. It is the conclusion of the story and the start of the new age. Without it all the earlier sacrifices would have been in vain. And, as in all wars, even the winners suffer and they are never the same.
Peter Jackson's stuff? It is just another plothole-strewn pastiche dungeon to storm through like Leeroy Jenkins. Flashy, shallow. Hard on the action scenes and heroic dialogue.
EDIT:
here's a link to Cristopher Tolkien's opinion on it: he says Peter Jackson ‘eviscerated’ his father's work.