What if Merry and Pippin Returned to the Shire from Rivendell in The Lord of the Rings? Pt. 1

After the Council of Elrond, Elrond has misgivings about Merry and Pippin going on the quest with Frodo and suggests they should instead return to the Shire to warn the Hobbits. What might have changed if his advice had been followed?

My video on the character arcs of the four Hobbits is here: https://www.youtube.com/watch?v=jOQ7dIVsktQ

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