I don’t recall the “Flying over and through Neverland” section in the film. The ride is “fly with Peter Pan over London. Go to Neverland and watch him fight Pirates.”
It shares a lot with the film, but the morales of the story aren’t present in the ride. The characters don’t grow and change like they do in the film. The characters don’t have motivation for their actions. The ride doesn’t even cover the “never growing up” aspect of the plot.
I don’t think it’s fair to say that “book report” rides are only rides that I dislike. I consider Splash and Pooh well done book reports.
I'm not super familiar with the Peter Pan film (NOT one of my favorites), but there is a shot, right when we arrive, when we see Neverland with the rainbow in an image that bares a passing resemblance to what we pass on the ride.
Additionally, we may not see the figures/scenes in that exact context, but we do see the mermaids, the indians, etc. in a way that is very similar to their depiction on the ride. And it does make sense, in a way; just as in the film Peter Pan moves through different vignettes (the Indians, the mermaids, etc.) before eventually cohering into a plot, so does Peter Pan's Flight. Arguably like a book report.
The morals of the dark rides and the films aren't necessarily consistent. We don't see Pinocchio in the ride do anything other than react to his obstacles, or prove that he is brave, truthful, and unselfish. We don't see Alice learn that perhaps reality and growing up is better than a violent fantasy world. Snow White the film spends very little time concerning itself with the Queen/the witch, and I don't know that there's much there that connects to the morals or lessons of the film. Themes, sure, but not morals.
It may or may not be fair to say that book reports only describe rides people don't like, and I know that that belief doesn't describe you personally. However, I haven't seen anything thusfar to sufficiently convince me otherwise for most people.