Its a ripoff, and only half a movie. The dragon is the villain of the trilogy and expected to still be there at the end of THIS movie. How directors structure something like this, making the one or two preliminary movies worth your time and money, is to write in SECONDARY villains that are killed or defeated.
Jackson writes in a villain for THIS movie, that's for sure. He makes it clear that its the one armed Orc. He is given a vengence back story connected to the Dwarf leader, and he is shown pursuing the protagonists throughout the movie. Even puts a bounty on them.
So through the course of the movie you are LEAD to believe that the two forces are on a collision course where the villain he has set up for THIS individual movie will be killed and/or defeated!
The group meet the villain near the end...basically fight his minions while he sits there...they escape...he watches them leave...
The villain battles the hero throughout the movies ALL the time, means nothing. So you're like OH, OKAY, he must really be angry, can't wait until the REAL climactic battle where they REALLY deal with him
! After all, this is Jackson's movie #1 villain and the dragon comes later!
A couple minutes later...the credits roll
...I...couldn't believe that I just sat here for 3 hours being set up for a payoff that never happens, and the one armed Orc is still standing there getting ready for the vacation flight to Florida until movie #2
I had never ever felt cheated that bad after a movie. Even the movies that sucked gave you a conclusion to the story you invested your time and money in
Knowing this, the blue ray cannot be bought unless he has put in a directors cut with the conclusion in there. It can only be bought as a 3-disc set (at a discount).
For them to sell what is basically half a movie for the 3D price of about $40 would be flat out ridiculous. He robbed you at the theater, but that would be nothing compared to you buying the movie as its own disc
! But they will get quite a few suckers to do it
! I'm done with Hobbit unless I see the 3-disc set of the trilogy in the bargain bin in a couple years