I agree with it so much, and it is one of the things I love so much about fandom: people brought together by a common love of elves and hobbitses (to say nothing of hunky Dunedain rangers), so that we respect those other parts of our lives that we may not necessarily agree with. At least that's the way that my fannish friendships have tended to work, and I'm grateful for it.
While I'm thinking about it, this morning I stumbled across Nimoy's old Bilbo Baggins song:
Hardly the high-point of a career, but it's strangely addictive.
Also: TOR.n has a really interesting piece of speculation about where the three Hobbit films might break that particular story. Contains spoilers, but it's really interesting if you don't mind that: