removes any of the extra idiot stuff that was crammed in there to bilk the populace out of three movies' worth of their money?

No Arkenstone, no Legolas, no chick elf, no albino orc (and shoot, while we're at it, despite the argument being made that it could be considered canon, the half-a-freaking-hour chase scene through the goblin tunnel could be cut back a LOT).

That alone would be worth a few months of VidAngel...