I figured that for sure they'd do a Hobbit sketch, and was hoping that they'd do something with The Office. Little did I suspect, though, that they'd put them both together.
The sketch isn't hilarious, but it's amusing, whimsical and very well done. Freeman has the Jim character down pat, and gets the eye-rolls and slightly off-camera looks spot on. And Bobby Moynihan does a wonderful job as Gervais (playing David Brent). He's not doing a direct impersonation, since after all he's also playing Gandalf and Ian McKellan, but he has the Gervais mannerisms down, and whoever wrote the sketch got the David Brent dialogue impeccaably.