[Nerwen]

Now that I think about it, the question of which reading is "better" is probably not a resolvable one anyway, because clearly so much of the reader's opinion in the case depends on his or belief-system and overall world-view. So, we're going to have agree to disagree on that point.

What can be argued is whether the author intended it to be a stand-alone work, existing in a different world to the rest of the Legendarium. I just don't think he did.