Yeah, that's my takeaway too. He's gone completely Lucas. I'm a masochist, so I'll probably go see the 3rd movie anyway.
The really bad part is that it will probably be 15-20 years before anybody else attempts a remake.
The LoTR trilogy, some of his changes I approved, some I was neutral, and a few I really really disliked. Of the 2 hobbit movies so far, I can't think of a single change he's made, that has made it a better story.