The Hobbit vs The Lord of the Rings
5. The Cause
For many, this entry should be a no-brainer. In theory, yes, the quest to destroy the One Ring is far more significant to the fate of Middle Earth than the reclaiming of Erebor. However, for the audience, this isn't necessarily the case.
Through its presentation, the plight of the homeless dwarves is by far the more invigorating story. Having witnessed the complete desolation of Erebor and the near annihilation of Durin's folk, the audience has already felt the pain of the dwarves of the Lonely Mountain. Indeed, the wayward tear of many an audience member looses itself upon Bofur's confession that he and his people have no place in the world.
Unlike An Unexpected Journey, the emotion attached to the quest is less apparent in The Fellowship of the Ring. Though the threat of Sauron is ever-present, the lack of emphasis on Sauron himself hampers the audience's emotive response. There is an understanding that Sauron must be defeated, though, without a clear image of the damage and effect that the Dark Lord has inflicted, it is difficult for this to be fully appreciated.
Winner - An Unexpected Journey