Soapbox Killer
Grand Nagus
Lord of the Rings is in an entirely different boat than Diamonds are Forever or Star Wars, though. It is the godfather of all modern fantasy and is considered one of the best books ever written, period. People have been remixing LotR for generations, but their unique takes are usually not called Lord of the Rings. If this was Dungeons and Dragons: Ring of Power, I wouldn't have a problem with it, but once you put that title in front of your show, it comes with certain expectations.
One could argue that Star Wars and Lord of the Rings are in the same tier of influence and status however, that is a horse for another race.
To your point , If there was some canon source material this was coming from then you would be well within reason to have such lofty expectations but this is what I call LEAF (Legitimate Exhaustive Authorized Fan-Fiction).
I respect your trepidation it's just my natural reaction to people of color being added to an established lore causing any contention, even something as extensive and exhaustive as the Lord of the Rings is horseshit.