I believe the point of the story would be, his noble beginnings, his admirable life, his temptation to always preserve (Tolkien called it embalming) that which he loved, denying it permission to change or grow; hence his denial that Luthien would be permitted to leave him (would he have let her marry anyone at all?) and in the end, with his continuing stubbornness, even disregarding the advice of his wife the Maia, leading ultimately to his final fall from grace, and so to his death.
"Lo, how the mighty have fallen."
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...down to the water to see the elves dance and sing upon the midsummer's eve.
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