If it [WWII] had inspired or directed the development of the legend, then certainly the Ring should have been seized and used against Sauron; he should not have been annihilated but enslaved, and Barad-dur would not have been destroyed but occupied. Saruman, failing to get possession of the Ring, would in the confusion and treacheries of the time have found in Mordor the missing links in his own researches into Ring-lore, and before long he would have made a Great Ring of his own with which to challenge the self-styled Ruler of Middle-earth. In that conflict, both sides would have held hobbits in hatred and contempt: they would not long have survived even as slaves.
So were the Hobbits becoming identified with others in Tolkien’s mind at this point? Did Chalmers Johnson read Tolkien?