I still don’t think Henry’s literal heart must be sacrificed, either willingly or unwillingly. I think Henry must willingly let his figurative heart become in sync with Neverland in order to restore magic. I think PP needs Henry to be alive, not dead, which is why he wants Henry to fully accept being a Lost Boy.
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"That’s how you know you’ve really got a home. When you leave it, there’s this feeling that you can’t shake. You just miss it." Neal Cassidy