Most people seem to be of the opinion that it is a definite upgrade from the regular blu-ray’s, despite the usage of DNR. Audio is being regarded as more ‘clear’ as well.
Best reason to upgrade is for the colours of course, although this screenshot from The Two Towers is too revisionistic in my opinion. I don’t know if this has been verified yet, but would be a shame if it truly looks like this in motion:

https://caps-a-holic.com/c.php?go=1&a=0&d1=5242&d2=15008&s1=48969&s2=156548&i=8&l=0

That should just be blue.

Many other images are stunning though, especially on Fellowship, it seems 😃