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i'll never understand how LOTR elitists can hate on people being overpowered after seeing Legolas slide (suf) down a wall on a shield while shooting 3000 orcs (edit - 41). To me, that was the stupidest scene in all of LOTR. If you still can hold that up as a masterpiece, i think you need to leave a lot of room for over-powered people. i'm not saying you're that elitist, but people were willing to overlook that trash, but now we can't seem to overlook anything.
To my view, Galadriel isn't OP enough. She's explicitly described as being on par with Feanor. The same Feanor who created the Silmarils and the Palantiri. The reason she seems OP is that we don't get to see the 2500-12500 years she spends learning from the Valar and perfecting her skills. She's a really terrible choice for a protagonist in a movie because of that.
Either she's a God Tier Mary-Sue or you have a long montage of her being taught magic and swordcraft and everything else by the gods themselves, then another long montage of struggle and suffering before the War of Wrath and the beginning of our story.
A much better protagonist would've been Elrond. (Who is, by the way, most definitely an Elf Lord) We could start around the time that Elros passes away and follow the rise and fall of Numenor, with somewhat less timeline compression and human characters the audience can more easily grasp...along with the opportunity to tell a very adult version of the tale with palace intrigue, grand triumphs, corruption, human sacrifice and literally apocalyptic hubris.
Feh, it's a wasted opportunity that'll take years to be attempted again.
Still superior to Wheel of Time, though.