Everyone chill! Put down the petitions; return the pitchforks and torches where they belong! Someone tell the angry mob to disperse because Ian Holm will indeed be in The Hobbit. As the original Bilbo Baggins in the Lord of the Rings trilogy, he’s been replaced by Martin Freeman in the prequel movies but he’ll pop up with fellow Middle-Earth vet Elijah Wood to frame the narrative. Woo! Framing the narratives! Someone get the metaphor nails! Oof, literary construction jokes just do not work.
Anyway, good to know the original dude will make his return, because if he hadn’t one would imagine the nerds would have his head on a plate.