It’s an enjoyable film, though not one I anticipate revisiting, but I can suggest it to people familiar with Peter Pan who have already experienced other adaptations. I was surprised to find that seeing this movie felt like a first viewing—something that happens when you start analyzing films and rewatching childhood favorites. I'm increasingly aware of how problematic Walt Disney’s legacy is. This film contains insensitive material, especially concerning Native Americans, and most of the characters are just unpleasant people, including Peter Pan and Tinkerbell. Wendy seems to be the only genuinely good character in the entire movie, although I almost feel like I’m stretching to see that. Tiger Lily might also qualify, but she doesn't really do much, so it’s difficult to say. Given the wonderful concept and Disney’s production quality, you would expect this film to stand up well, even after seventy years; however, I'm starting to suspect that its widespread acceptance was simply due to a lack of alternatives at the time. I don’t want to misunderstand: the story itself is “close enough” to the original and has a structure solid enough that any remake would likely be quite similar to this version. It’s primarily the stylistic choices—in animation, dialogue, and character portrayal—that could easily be improved, and probably should have been. While I could spend an hour discussing the "love" triangle in this film (I'm definitely on Tinkerbell’s side), it’s supposed to be about “the boy who never grew up.” Although that explains some of the jealousy, the inconsistent details regarding everything being magical tend to take away from that. You might notice that Peter no longer has human ears; he has pixie ears, and the boys supposedly killed and skinned giant animals so they could wear their skins as pajamas: what happened to the rest of those animals? The pirates have been there long enough to become bored, although there are still enough of them left—despite Hook occasionally shooting them—but not long enough to stage a mutiny or properly search the island. Yet, they do possess a strangely detailed history with Peter Pan and the crocodile. It’s an odd movie: it's still worth watching, but I would suggest viewing it with your children rather than letting them watch it unsupervised.

Source on TMDB