According to all the theories I've read so far:
Hallucination theory: Shinpei is completely imagining these things. Satoko really died. I think it's a logical theory.
Satoko was alive theory:
If Satoko really survived for 50 years, why was Shinpei never informed? Did he really never visit her even once? There were so many people who could have helped them reunite, so it feels strange that they remained separated for decades.
Afterlife theory: Shinpei also dies and they reunite in the afterlife. This is actually very nice, but it doesn't seem very likely?
Mitsuharu theories: Satoko was deliberately kept away from Shinpei for all these years and married to Mitsuharu. This might be the most absurd one because even Kotaro could have secretly informed Shinpei about it.
Imagined Future Theory: The old-age scenes were just Shinpei imagining a future where Satoko died. He mentally lived through decades of loneliness while waiting, but once he learned she had survived, the story shifted back to reality, which explains why they're young again in the final pages.
And I saw someone write that the Firefly here represents not a short lifespan, but their short-lived union.
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