In the scene, Bilbo Baggins and his dwarf bros are captured by goblins and taken under the Misty Mountains to meet the Goblin King. The king greets them with a song, and for a brief two minutes, we get a respite from the misery of adventure scenes that play out like parodies of themselves. A big criticism of The Hobbit is that it's about 95 percent green screen. The robot apocalypse has begun, and it did not begin with violence, but with a Hobbit special effects artist yelling "Stop! Please! Stoooooop!" at a computer. This song is no exception, but by god, it isn't the rest of The Hobbit, so I will clutch it to my chest like a life preserver in a sea of director Peter Jackson's dreams.
A big thing that sets this apart from the rest of the movies is that it doesn't take itself seriously at all. So much of The Hobbit is meant to set up and extend the grandiose mythology of The Lord Of The Rings, which plays out in the form of a lot of people having flat conversations about magical bullshit with each other. But here, a CGI monstrosity of goblin fat and genital warts sings a song about how great it is to be a carnivorous dirt lord. And it almost distracts you from the reality that it's all a countdown until we get another action sequence that is a literal hour too long.
"And then they had a chase scene that lasted a fucking year. The End."