Agreed. Some of the horde shots were CG, but usually real stuntmen were used.
Moreover, Jackson's "CG only when necessary" philosophy extended even to locations-shots, buildings, etc. As much as possible, he used models and location shooting rather than just using a quick-fix CGI "band-aid." He also used animatronics for as many creatures as he could (Treebeard, "giants" from the Hobbits' perspective in the Prancing Pony, etc.) In addition to adding a sense of weight and realism to the final film, this approach also gave the actors something to interact with, rather than just putting them in front of a greenscreen with a suspended golf-ball, and shouting, "Faster, more intense!"