So the Lord of the Rings had it success back in the day. The problem was the game was a product of the movies and lost momentum as the movies became older. Additionally, alot of the "cool" aspects of a Wargame in Middle Earth were missing. Hordes of Mordor versus the legions of Gondor or the Tide of Rohan. But the game was a Skirmish Game instead, focusing on the fights between heroes, and only well after the movies were gone did they try to make it a battle game with their War of the Ring Expansion, which seemed to actually bring some interest back to the game.
BUT then they did the Hobbit and went back to their old skirmish model. What is unfortunate in particular this time is the price went up, and this was the source material they had to work with:
The problem is until BoFA, the Hobbit world didn't support a battle system because the story didn't. No one wanted to play the Escape from Goblin Town game because no one wanted to play the story of the escape from Goblin Town. They wanted to play Balin's battles in Moria, or Pelinor Fields, or the Last Alliance OR THE BATTLE FOR FIVE ARMIES.
Alas though, this survivable way forward for the game will fall on deaf years and it will fade away like specialist games and have a core dedicated fan base. I will keep an eye out over the years to see if someone finally does my Iron Hills armies in miniatures. I just can tell GW has lost interest and likely won't.