The Lord of the Rings Reviews
Most interesting is how it overtly and clearly influenced Jackson's storytelling in his (definitive) adaptations, as can be seen in his adoption of some of the best aspects of this film - the introduction explaining the history of the rings of power, and the alternating between the storylines in The Two Towers (as opposed to the book deciding to fully tell one thread, and then the other full thread), for example. And indeed, as a case study in how not to do certain things.
So, ultimately, it was interesting and ambitious, and pretty impressive for when it was made, but a success as a piece of accessible entertainment? Not so much. For the animation history and/or Tolkien nerds only, I'd say.
Although it has a messy structure and the animation is uneven, Ralph Bakshi's bold attempt at Tolkien's epic fantasy is incomplete but features enough psychedelic imagery, charm, and affection towards the novel to be watchable.