Last Podcast on the Left did a long interview with the directors:

https://www.youtube.com/watch?v=yKQwLYfrkCQ

It sold me on the sequel

But Elijah Wood doesn't exactly sign up for shitty movies. He's not Nic Cage whose goal is to collect castles and dinosaur bones, Frodo just wants to make cool movies like Harry Potter these days.

It's gonna be good