Like the other two movies, Five Armies doesn't come close to the quality and emotional depth of The Lord of the Rings but that didn't surprise me because the book didn't have that either. Jackson caps the movie with an epic battle sequence with a great fights that completes the character arcs for the primary characters with an ending that that ties into Fellowship of the Ring in a rather predictable and forgettable way. If you liked or were somewhat entertained by the first two movies than this movie will easily satisfy you has it has the most visual stuff happening on screen (even if the actually story beats are the most simplistic of the three films).
My main complaint about the film is the same I think most people had - there simply wasn't enough depth material to warrant three films and the result of all that stretching weakens what otherwise would have been timeless films. Instead The Hobbit Trilogy will probably land in the same area as the Star Wars prequels where people know they exist but can't be bothered to watch them when they can enjoy the superior other trilogy instead.