[Imladris]

So you are saying that Jackson failed because

1. He did not understand it Tolkien's myth well enough (action movie indeed!).
2. Fantasy simply cannot become dramatized.

Myth/fantasy cannot really be shown because it is fantasy, ie, it does not exist. It is a feeling that cannot be expressed because it is not based on reality. What we get is a wavering reflection of the director's views and the feeling of reality struggling to portray the other worldly.