I’ll admit that I’ve got very limited knowledge of the books this is based on. That being said with the star power behind the film (Steven Spielberg & Peter Jackson) it’s kind of hard to dismiss it.
Motion capture, Avatar aside, has been kind of hit or miss but this seems to keep with the art style of the books giving it a more stylized look than say Beowulf, A Christmas Carol or The Polar Express.
Regardless it looks like an interesting endeavor even if this teaser doesn’t really show much.