This is one of those theories that can't really be disproven (like the many eyeroll-inducing theories about the contents of the briefcase in Pulp Fiction) but it also makes little to no sense and is clearly not what the author intended.
Consider:
Perhaps Tom Bombadil represents Santa Claus? After all, Santa Claus has magical powers that utterly transcend what mortal humans can even comprehend. And yet the remains detached from worldly events, never taking a side in wars, never helping human beings during crises that could clearly benefit from his powers, etc.
The truth is that, characters like Tom (and Santa Claus -- if they are indeed not the same person) are fairly common throughout fiction and mythology.
After all, if you invent a character with absolutely transcendental superpowers, you need to explain why the character has chosen not to use those powers to i.e. cure world hunger, or end war, or whatever.
You can see this in... well, any major world religion. Notice how God never directly intervenes in the New Testament, even though he clearly could? Yeah, it's explained.
Consider:
Perhaps Tom Bombadil represents Santa Claus? After all, Santa Claus has magical powers that utterly transcend what mortal humans can even comprehend. And yet the remains detached from worldly events, never taking a side in wars, never helping human beings during crises that could clearly benefit from his powers, etc.
The truth is that, characters like Tom (and Santa Claus -- if they are indeed not the same person) are fairly common throughout fiction and mythology.
After all, if you invent a character with absolutely transcendental superpowers, you need to explain why the character has chosen not to use those powers to i.e. cure world hunger, or end war, or whatever.
You can see this in... well, any major world religion. Notice how God never directly intervenes in the New Testament, even though he clearly could? Yeah, it's explained.
Broadly speaking Tom Bombadil is like that.