Well, the Extended Editions of LOTR are cool for fans, but most people will say that the theatrical versions are better films. They're definitely paced better. Especially The Two Towers, which has too many slow scenes towards the middle of its Extended Edition. And Return of the King had too much Gimli comic relief.
So I can understand his skepticism.
I can't agree with that. The theatrical versions were missing a lot of important scenes and felt incomplete. Like in Fellowship extended, the Boromir/Aragorn argument changes how you view the final scene. Two Towers theatrical was a mess, Faramir's character is nonsensical, the whole Rohan setup is missing, and Treebeard gets about five minutes of screen time before the climax. Return of the King is the most complete theatrical version, but it's still missing key scenes like the fate of Saruman, the Gandalf/Witch King showdown, the Mouth of Sauron, and Aragorn's confrontation with Sauron through the Palantir.
It's hard to compare to the Hobbit though because LotR is like five times as long as the Hobbit. If they were to adapt LotR at the page-per-minute pace of these films, It would take over four films just to get through Fellowship.