To me that's really appropriate for the elves of the second age. The late first-age elves could not be more different than the serene, noble elves that we know from the third age... they've declared violent vendettas, they've killed one-another in senseless battles, they've been pridefully foolish in their confidence of their magic, many of their choices have unwittingly aided evil, and they only survived that conflict against Morgoth because a mortal half-man went and pleaded with the Valar to intervene. So it's appropriate that they're in a sort of low point here... a Morgoth-like threat arises, and they truly don't know whether they have the strength or judgement or the willpower to withstand him. If the elves still feel the same way by the end of the series, I'll be disappointed in that, but I think the elves finding their direction again through the alliance with men would be a good arc for them.
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