Lord of the Rings isn't a PS1 game. A lot more people are reading old books than are playing PS1 games. I'd assume most people still playing PS1 games now are using emulators, but for a sense of scale: Something like fifty million more copies of Lord of the Rings have been printed than PlayStations made.

Huh emulators are in HUGE demand especially as PC gaming and mobile became dominant over consoles.

Emulators have hundreds of millions of views on youtube as a rough benchmark. There is a huge huge amount of interest in the "classics" across a wide amount of multimedia.