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Clearly this aside was intended to convey something about the two hero's attitude to the mores of the Shire, & show how different they were. A funeral should have been held for Bilbo, but wasn't, & the other Hobbits didn't approve.
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Davem -
It's interesting because my reaction to this quote was different than your own.
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His relatives and neighbours lost the chance of a funeral, and they had a good deal to say.
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What drew my attention in that quote were the final words: "and they had a good deal to say." It seems to me that what they were bemoaning was not that a "proper" funeral had not been held, but rather that they had not had a chance to discuss Bilbo behind his back, after he was dead and they were quite safe from his sharp wit.
Above all else, a funeral is a social gathering where you get to see people you haven't seen in ages. A great deal of time is spent discussing the attributes of the deceased. Some of this is open and shared with all. Other conversations are quietly held in the corners, since they may be too 'honest' for some. Yes, it's all said with a wistful smile and in good spirits, but people do remember the foibles of the deceased as well as the accomplishments. Bilbo had a great many foibles in the eyes of his neighbors. Without a funeral, his neighbors found they'd been denied a final opportunty to discuss their nonconformist neighbor.
To me, this brief quote is another example of the fact that, in the Shire, the emphasis is on the living and not the dead (as it was in Numenor). Even a side quip about a funeral focuses humorously on the needs of the mourners to gossip rather than viewing it as a solemn memorial to the deceased.
There is a social or communal aspect of mankind that is reflected in the Shire. I do agree with Littlemanpoet that the Hobbits have some natural and animal-like characteristics, but they also display certain social behaviors that operate on a different level. Such proclivities remind me less of rabbits and badgers, and more of what I see in my neighbors when folk attend funerals and weddings, spread rumors over the back fence or, heaven forbid, post here on the Downs!