In the actual books, one can see from the eastern edge of the Misty Mountains across the Vales of Anduin and Mirkwood, and see the Lonely Mountain. However, if you go there, you can only see as far as your render distance is set. If it were possible then it would be awesome to add backdrops to the edge of loaded chunks in your world that show beyond them. It could be a fixed picture that changes where you are. You could see from Minas Tirith to Mordor that way, and many others. It's like in other videogames when beyond the playable world you can see backdrops of other things that are not loaded in the world but should be there. If this were to be added it would add a lot more feel to the game. Imagine is you traveled from the Shire to the east and saw the Misty Mountains looming in the distance growing larger everyday. It would be cool wouldn't it?