Yeah, it kind of bothers me that the Hobbit is only available in an edited form. BUT--and this is a big but--the original text is available in the annotated book. Since text is text, it's 100% perfect quality as the original; furthermore, it IS possible to buy ample second-hand copies of the original, again in the highest quality possible because text is text. And also, if LOTR fans were so inclined, one could easily just edit together all the original annotations in the currently-published special book; a kind of fan presentation like how we stitch together sources here. All the resources are there. Since, as far as I am aware, no Tolkien fan has done this, amid all the millions of fans and dozens of Tolkien website and communities, I must conclude that either no one cares enough to do that, or the annotated version or original second-hand copies suffice for the minority interested in the original text.
A situation completely different from the OOT, where only badly-degraded copies are available. It would be like if the original Hobbit had only been published in a photocopy packet with much of the text hard to read and no modern annotated version. Luckily Hobbit fans are fortunate to have the original text, in its original quality, plus older original copies. When Lucas puts all the OOT footage on Blu-Ray in HD as deleted scenes, I would happily shut up and get to work stitching them together into a preservation edit.