Morwen has already stated the situation perfectly. The 'Free People' are already, by the time of the story, effectively finished. Sauron is going to win - he has overwhelming forces & is moving towards the final victory. Its not that the Ring will enable him to break a stalemate, let alone to snatch victory from the jaws of defeat. Its not a case of 'If Sauron gets this he'll win' but of 'If he gets this then our only chance of snatching victory from the jaws of defeat is gone - but if we can destroy the Ring he will fall'.
Of course there are some (as at the Council) who seem to believe that just keeping the Ring from him ('send it over the Sea'/'give it to Bombadil' etc) will be enough, but they are soon put in their place.
The basics of the plot: Sauron has arisen again & is about to destroy us & take over the world & we thought there was nothing we could do but surrender or go down fighting. Now, however, we have found his Ring, his one vulnerability. If we can destroy the Ring we can destroy him. If he gets hold of it again our only chance to defeat him will be gone.
Sauron doesn't need the Ring to win, he just needs to stop any enemy capable of using it claiming it for himself (or, though this never crossed his mind, destroying it)
|