Save for possibly Eru or Tom, it isn't. Middle-Earth is odd and mysterious, but in the end if a guy with a powerful will gets his head cut off, he is dead. While the will of a person stands out, it does not grant them any extreme powers or immortality. Examples; Feanor died, Morgoth was defeated, Sauron was defeated, Thingol (who seemed pretty intent on those Silmarils at the time) was taken out by Dwarves, a balrog killed Glorfindel, Hurin was still taken captive, the Witch-King was taken out by Merry and Eyown, Frodo still suffered wounds, etc. Will is important, but not that effective.
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"And forth went Morgoth, and he was halted by the elves. Then went Sauron, who was stopped by a dog and then aged men. Finally, there came the Witch-King, who destroyed Arnor, but nobody seems to remember that."
-A History of Villains
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