It's nice to see someone mainly known for his work on Tolkien to be honored in this way. In part it seems a sign that the old custom of only giving out knighthoods to people in the entertainment industry when they were at death's door (Hitchcock, Chaplin, Wodehouse) has finally given way to recognizing them while their careers are still ongoing (e.g., Sir Ian McKellen). Even so, Jackson is on the youngish side to be receiving this award. Good for him, I say.
*as opposed, say, to his brilliant but little-known mockumentary, FORGOTTEN SILVER