The usefulness of the Fantasy book is predicated on the idea you are a GM that are actively looking to tweak or create "magic" for your setting - whatever that might be.

If you're looking for an insta-fix for Magic right out of the box, then you're going to get *slightly* less value. It's giving you guide-rails on how to do it across a variety of "fantasy" tropes. It deconstructs not only "Magic" from the corebook (yes there is overlap), but it also deconstructs "Pathfinder" into discrete pieces for you to play with.

What needs to happen for Tolkien-style magic, is for you as a GM to determine in what way do you want PC's to engage with "magic" in the Tolkien setting. Magic isn't that prevalent on an individual level in Tolkien's books outside of major characters in the lore.

But that doesn't mean you can't create Arcane Backgrounds to reflect discrete  "spells" (Powers in Savage Worlds) and simply create Power Lists to reflect that. But you'll have to decide that Ranger can/can't use Bolt, Blast etc. but their lists are limited to more subtle effects. It's pretty easy to be honest.

If you're looking for high-powered 1st Age magic... SW can definitely do that with the Fantasy Companion, and if you want to use Mega-Damage rules and effects from SW Rifts, you can definitely do that too. But you'll have to make those calls in the construction of the Magic system for yourself.