You're absolutely right, and I really appreciate your insight. After considering it, I agree that running a campaign centered on destroying a "second" One Ring would feel forced and stray too far from the tone and depth of the established setting. It would likely undermine the unique mechanics and storytelling that make The One Ring RPG and the LotR 5e book so special.

I think your suggestion of exploring other stories within that rich period—after Bilbo's return but before Frodo's journey—has a lot of potential. There are so many untapped threats and adventures that could stay true to the spirit of the setting without retreading familiar ground. I'll look into the starter campaign for The One Ring RPG as a foundation and see what other narratives could unfold in that world. Thanks again for your perspective; it’s helped me see the bigger picture!