A safe fairyland is untrue to all worlds.
Fantasy (in this sense) is, I think, not a lower but a higher form of Art, indeed the most nearly pure form, and so (when achieved) the most potent.
It was a hobbit hole, and that means comfort
Third time pays for all
Go not to the Elves for counsel, for they will say both no and yes.
The Hobbits are just rustic English people, made small in size because it reflects the generally small reach of their imagination - not the small reach of their courage or latent power.