Oh no it is most definitely a serious critique against the films.
I realize that small/weak/useless race like hobbits can contribute and ultimately be the heroes who save middle earth is kind of the premise of LOTR, but only when you frame it just so.
How it should have ended version of the LOTR trilogy:
scene 1, the shire. gandalf realizes that bilbo/frodo has the 1 ring.
gandalf: "hey frodo, put that ring back in an envelop. put that envelop in a box. lock that box. aight let's go" whistles for magical eagles to appear.
scene 2, montage scene from elf city, rohan, Gondor, etc.
gandalf: "Yo i need you ppl to stand in front of the gates at mordor and distract sauron's army for about 3 minutes."
scene 3, while sauron is distracted, flight of eagles flying over volcano. drop box (and frodo if you want) into volcano.
fin.
2 minute movie.
again I never read LOTR so I don't know if there was more to the story than that. but in the films, as presented, that giant eyeball couldn't do shit but watch. it's not like it could shoot laser beams or anything. at best it could command the ringwraith dudes on their flying lizard eel things to go and try and fight the flock of giant eagles, but as shown in the films sauron is very easily distracted and he's already sent those dudes out scouring the country side. He's a shitty tactician basically and wouldn't have had enough of those dudes in reserve to stop gandalf from getting to the volcano and destroying the ring, not that he would even know that he'd need to keep some flying units in reserve for an aerial battle. in all honesty they'd all still be on horseback in the shire trying to ride back.