Our theory is that he is reverting to wood, and won't be able to live that way in a world without magic. So he is looking for a magical cure, and it's either through Emma (who does have magic) or he was hoping Rumples. Have we seen his hands? We think that he is going to prove to Emma the book is real by showing her what is happening to him.
The overview of next weeks episode is about how Gepetto agrees to build the wardrobe, but is looking to save his boy as part of the deal. That must explain how pinoccio ends up outside of SB. Also, Emma was found with a 7 year old boy nearby. That must be August.
We know that some of the characters do have magic, even if the world does not. Regina killed the woodsman by squeezing a heart in storage, Jefferson disappeared and Emma started time. We think that's all going to play out in the finale. Rumple is convinced that the world doesn't have magic because of the event with his son. That doesn't mean he is right.
And if magic can be used, then this whole show is about to make some crazy change in preparation for season 2.
We can't wait to see what they do.