Exactly - any story can only present its characters in a very limited range of situations, so the characters' personalities extrapolated from the story by the reader are not necessarily the same personalities that are ascribed by the author. Although there is also the subtext that the author does not intend but is nevertheless noted by readers!

Maybe that's the heart of the matter: being able to identify with characters. If Tolkien had written them without any recognisable human traits they wouldn't be so likeable.