It did. This film was shorter than any of the other LOTR films. And except for Azog being alive and hunting them almost everything is either based on The Hobbit itself or background material Tolkien himself included in the LOTR appendices for the purposes of placing The Hobbit more securely within the LOTR world.

I'm not saying there aren't people who genuinely don't like it, but IMO a lot of it, especially from the critics is mostly pure spite against Peter Jackson and I'm not even some sort Jackson stan but I know spite when I see it. Half the negative reviews aren't about the content of the film, but about the 48 fps, which no one is required to go see it in. Easy enough to see it in old fashioned 2D. :)