PoM, I like your rationalizing. And it makes a bit of sense. They set Graham up as a potential major character, including him in all promo shots, publicity and the like, and then killed him off in Episode 7. They did show that nobody was safe. J.K. Rowling did the same thing with Cedric Diggory in book 4 for the same reason.
I think as an audience we’re all pretty cocky and sure that our favorite character is not going to get killed. Rumple is going to his “undoing” yet not one fan believes he’s going to die. And like you said, Belle has been tortured so much that it would be a real shame to just kill her off now.
I hate to admit this, but if they wanted to ax a character it’d make most sense to be Ruby. Meghan’s on another show, she’s only been used conveniently and not well in the last season, and she’s a part of Snowing’s inner circle. Her death would affect everyone.
Back to Hook, maybe he’ll take on the role of Sydney Carton (Snape also pulled a Carton). Anyone who has read A Tale of Two Cities knows of the character’s sacrifice in the end for the greater good. He wasn’t a nice man or a good man, but in the end he did something extraordinary.
Keeper of Rumplestiltskin's and Neal's spears and war paint and crystal ball.