It didnt end there when Sauron died because thats not how the book ended. Theres still a lot more to it after Sauron is defeated. Read the books, you may appreciate it more. Even if you didnt read the books, I dont see how you could say it was a waste of time. Its such a milestone in movie-making.
yeah i read the books when i was younger and didn't like them to much - BUT I think the movies are fantastic journeys into movie making.
I gotta see the third one... lol.