I feel you, if you enjoyed that then I don't want to take it away from you. It's frustrating to me because the best part of that episode was the negotiations they held immediately afterwards. I would have happily traded in the contest scene for the opportunity for the writers to really explore Elrond's relationship with the dwarves. It seemed like the sort of thing a Lord of the Rings adaptation might do, rather than succumbing to spectacle when it fits the pacing of the show best. But I guess everybody is looking for something different, I'll concede that I mostly wanted this to be Game of Thrones with less sex/violence and more interpersonal development & worldbuildiong.
The rock-splitting contest is exploring Elrond's relationship with the elves.
It isn't about smashing rocks. It's about Elrond submitting to a Dwarvish custom and making a not-terrible showing (for an elf). It demonstrates the respect he has for them and shows the half-measure of respect he earns from them.
That is the key scene of the episode. The reconciliation would not have been possible without it.