Without the Hobbits, Galadriel would never have been tested by Frodo offering her the ring and might not have been allowed to go West over the seas. The Ents would not have been roused and destroyed the Isengard orcs and Saruman's power base at Orthanc, resulting in the destruction of Rohan. Aragorn, Legolas, and Gimli would not have had a reason to go to the edge of Fangorn where they met Gandalf. They would probably have gone straight to Gondor with Boromir and not taken the Paths of the Dead so the Corsairs would have destroyed much of Gondor's coastal population. Would Gandalf have even gone to Rohan and freed King Theoden from the control of Saruman?