I was talking about a set of books - LotR - and not a RPG. A book set in modern times will normally posit that people have the material wellbeing, leisure time etc that is typical for someone of their place and class.If you were playing an RPG set in modern times would you have any more detail than D&D for mundane activities? How often does any fiction go into that kind of detail of how people acquire the stuff they own, no matter the genre or style? That's I why think it's just such an odd assertion that elves having stuff doesn't make any sense. Not going into details about mundane activities doesn't mean those mundane activities don't exist.
A modern RPG where (for instance) PCs live in nice houses and have comfortable incomes though they don't seem to engage in any productive activity would be one which isn't realistic. That may not matter.
In Classic Traveller, it's all rather obscure how the economy works. I can say from experience that that doesn't matter.
I didn't say that LotR is superficial. It's more profound than any FRPGing I've experienced. I said that its treatment of economics, social structures, human geography and the like is not realistic beyond a superficial veneer.Practically all fiction, RPG or not, is superficial and "not realistic" by your standards.