I’m not going to get into whether Jackson should be deified or cast into the abyss for his LOTR trilogy, but I would like to point out that The Hobbit is a very different book from LOTR.
Stylistically, it’s a children’s book, meant to be read aloud. If the director follows the book, that means both heavy narration and a much lighter tone.
Further, there are major continuity differences between the books, largely explainable by the fact that The Hobbit is a children’s book. In LOTR, trolls aren’t Cockney dolts, but vicious killers. In LOTR, elves are dignified, not silly, and certainly not as avaricious as the Mirkwood elves are made out to be. Etc., etc.
So, given the differences between the stories, if you think Jackson did a fantastic job on LOTR, it may mean that he would suck doing The Hobbit, and vice versa.
Sua