no, I really enjoyed the song too! I mean, I don't know how much of it is genuine me-now enjoyment and how much of it is oh-I-really-laughed-at-this-when-I-was-eleven nostalgic enjoyment. But The Hobbit is, overall, a much more light-hearted book than the rest of Tolkien's oeuvre, since it was originally a bedtime story for his children. Tra-la-laly was probably a far more amusing thing for elves to be singing in the woods than the Lay of Luthien XD