Yes you are right in a way that it looks more "real". But real in the sense that you are acutely aware that it is a staged production when viewing it. The author of this article directly addresses this when he says just that, and also notes that it looks like a behind the scenes featurette.

I have not seen footage from The Hobbit but I have worked with other dramatic content at high frame rates and I know exactly what the author is describing. It's really gonna bug people if they really do release at 48fps.