I enjoyed this variation on the classic tale. The notion of Captain Hook recast as a frustrated intellectual forced into a role he has long since tired of playing would already have been enough to make me smile, as I am not a fan of two-dimensional villains. But his reluctant realization that both he and Peter were equally victims of Neverland, though for opposite reasons, was oddly satisfying. The suggestion (as I perceived it) is that by the end they have both acknowledged and accepted their own role in having trapped themselves, and by so doing, perhaps found common ground that may end up remaking their relationship.
Of course, it's possible the cursed Neverland may no more permit such a friendship to grow than it would allow either of them to leave. But still, if you are of a more hopeful nature perhaps you can allow yourself to believe they might make it work somehow. And if they do, then as friends, they might begin to rub off on one another, balance out each other's flaws, and make one another better from their association. In that case maybe -- just maybe -- James is somewhat wrong in that Neverland is not so much Hell as a form of Purgatory.