The striving to be LoTR is particularly noticeable in the casting of Ian McKellan and Christopher Lee. However the movie did not do either actor any favours, with Lee having only one line and McKellan delivering lines that looked like a parody of his role as Gandalf. When the bear played by McKellan yells to the heroine to run on from a thin crumbling bridge that he cannot cross, my whole family burst into laughter - which did not seem to be the effect striven for.
The CGI was mostly of a high quality, but was uneven in places, with McKellan's character again being poorly served, moving from realistic to cartoonish and back again several times.
I am sure that the series by Philip Pullman could have made a good series of movies, but this was not the script or director to launch one.