Excellent video essay. Where My Neighbor Totoro really shines in is that it realizes that its target audience is a bit more intelligent than most think they are. Kids are smart, curious, and insightful little creatures. I watched Peter Pan when I was younger and didn't get to watch Ghibli until well after I became a teenager, but I'm glad I got to show it to my little sister.
Totoro is a movie anyone from 2 to 102 can enjoy. It is so simple, but not obvious or pandering. It is full of so much joy, but underlined with this deep quiet fear of their mother's illness. It's a masterpiece.
Great analysis. Watching peter pan as an adult was definitely disappointing, my memories of it as a child were much better. While my neighbor Totoro seemed to mature alongside me. You name well the differences between the intent of the two films.