Older fantasy fans will remember "bad" adaptations of LotR (e.g., Bakshi, Rankin-Bass).
Or the Chronicles of Narnia for 80s BBC tv.
Those didn't prevent later better adaptations from occurring. It probably won't be amazon, but I'm certain someone else will take a crack at it....and animation makes more sense than another big budget live-action blockbuster.
I'm tired of hearing people say, "Because THIS adaptation has failed, there will never be another adaptation." That's a logical fallacy, and even a cursory glance of past fantasy IP history will prove otherwise.
Might not be soon. But it'll happen.