The reply is damn spot on, the whole of middle earth was terrified of it falling into the hands of almost anyone - if they were powerful enough, they'd become a new Sauron, if weak enough they'd be virtually enslaved by the ring and made to return it to the dark lord.

A hobbit was literally around the threat level of a chicken, with the added bonus of being thick skulled enough for the ring to have a hard time influencing them...

Granted, Frodo was much more seriously affected than Bilbo, but Sauron had regained much power by then, they were much closer having travelled into Mordor itself, Frodo was physically and emotionally debilitated during a big part of the trip, and he was fully aware of the burden he was carrying. Finally, the ring actively fought back as they approached Mount Doom, becoming heavier and aggressively trying to corrupt Frodo.

The boys did good there.