On the other hand I think they are making a poor job of setting it up. Let's take Khazad-Dûm. Since LotR (the films) everyone knows that "the dwarves delved too greedily and too deep. You know what they awoke in the darkness of Khazad-dum... shadow and flame." It was already set up to be a story about hubris. In the show it started well along this idea, because they had Durin III saying "no, we won't mine here, it's too dangerous and RISKS THE LIVES OF DWARVES."
Hubris would be "I like mithril, I know it could risk the lives of my subjects, but I am wise enough to mine prudently, let's extract this mithril and create many shiny things I like, and look, it works, proving that I am really the best..." until of course it no longer works.
Here we have an elf who risked his life to save dwarves lives in a mining incident, asking Durin IV to extract mithril to save EVERY SINGLE ELF LIFE IN THE WORLD. So the debate is framed as "Should we risk a few lives to save great many lives, including those of people who risked their own lives to save ours in the past?" It isn't hubris to say "yes" to the latter. If anything Durin III can't be seen as "wise" in the show, but outright evil to let innocent die (instead of say allowing the elves to dig themselves, or ask if there is any volunteer among the dwarves, one of which would be his own son...)