And degraded Aragorn's character somewhat also compared to the Books.
So the rot may even be already present back then. But I'd still recommend it as a good film overall.
The Extended Edition was excellent. It ties up all the loose ends in the theatrical release and greatly improved the story. Especially the character of Boromir.
You're right, grrrl power didn't come out of nowhere. It's more a matter of degree. Jackson has a weird fixation on slobber, but he had enough respect for Tolkien that it was a generally faithful adaptation with some excellent performances (Christopher Lee,Ian McKellen, etc). It's tough to break down that amount of source material into a workable script.
This has nothing to do with LOTR, but listen to Charles Laughton read this Psalm: