[Eomer of the Rohirrim]

The Valar, eh? Two scenarios.

A scandalous effort by them to wilfully ignore the problem. "Oh! It's Middle-earth's trouble, not ours!" Cowards. Self-absorbed scoundrels. Do they really care about good and evil?

Or perhaps, just maybe, Elrond didn't know what he was talking about. Perhaps Manwë was sitting up there on the Mountain, shouting "No, you fools! Don't let the hobbit take it! Send it over here and we'll deal with it!"