The new series is covering the period after the Fifth Battle through Sauron's rise to power. Done well it could be epic, as we'd get the rise and fall of Numenor, the corruption of the Nazgul and to a lesser extent, the Dwarves, and perhaps even the last battle in Mordor with all the heroic sacrifices.
But what I've seen of the preview material looks pretty but came off as bad Tolkien fan-fic. I'll watch in hope of being wrong but I don't have much expectation for this. Until Hollywood learns to respect thje source material, we won't get any more LotR level movies or GoT level miniseries.