In a dream scenario where they can get the right people to do it, I would vastly prefer a TV series. Even with the extended editions, there’s a ton of material in the books we didn’t get to see. Things like the whole sequence with the elves early in the books being turned into “hey look there’s some elves”, no Tom Bombadil, the journey from Rivendel to Moria. And that’s just the first book.
I think most would agree the world building is one of the best aspects of the books and there just isn’t time for that in a feature film.