Billy Baggins and the Bobbits

When a dark magic awakens in a far-away land and threatens the existence of a race of bobbits, they call upon the prophecy to guide them. Legend has it that a child with exceptional intellect, skill and talent will save their people, so they call upon Billy Baggins. But, as time passes, it appears that Billy possesses none of the skills required to complete the quest. So, the question is, have the bobbits found the Chosen One, or have they chosen wrong?