We could have more of Middle Earth since there's plenty of material. The problem is TV/Film written and directed by committee that has to dance around the stories that Tolkien actually wrote in the world as he built it since his estate has never sold the rights to the Silmarillion and the History of Middle Earth.
That's really why the Rings of Power sucked. The company wanted 10 hours of content and paid nearly half a billion dollars for it. But budget can't create story and characters where there are none and the writers have to work around the appendices of a book.
It's the same fundamental problem as the Hobbit trilogy. That could have been a fantastic 100 minute film.