As I'm sure someone has said before, Tolkien wrote LOTR to create a 'legend' for England, as he believed it did not have any great old stories that were truly English. (Even the Legend of Arthur was not truly English)
This is why he wrote it in the style we see.
PS In my view, who says Sam, Frodo and all did not help Bilbo write the fellowship (up to the council) while they were at rivendell. And in my view who says Sam or his descendants did not update the book?
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