The latter.Ugh. No, it does not. In fact, I have hard time deciding whether RoP makers are simply clueless, or are actively malevolent and intentionally disrespecting the source material.
If you look at the behavior of the cast and crew, especially the writers and producers... they're all Leftist ideologues. They are the cancer which rots any show they touch or work on.
Hell, the woman who plays Galadriel had a public freakout/meltdown about supposed "racists" on soc-med.