"Homeward Bound" is quite short--even by the standards of denouement RotK (is it the shortest? I'm typing on my phone in the car, so I'm not sure). It's not quite the farewell tour of "Many Partings," but it does extend the trend of working our way backward: this time all the way through Book I to the edge of the Shire, focussing mostly on Bree and sliding right past Tom Bombadil.
The chapter does two things structurally, each of which prepares us for the coming chapters. First, it prepares us for "The Scouring od the Shire" by showing us Bree, whose troubles prefigure what they'll find across the Brandywine. Second, it shows us Frodo's PTSD, preparing us for "The Grey Havens" and his final decision. In both these respects, it's a bittersweet chapter, the first that has a dominant non-joyful note since before the Ring was destroyed. In this respect, it marks a return to normalcy, though the Hobbits carry with them the marks of change. They return to the Shire, but they are not the same.
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I prefer history, true or feigned.
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