Semi lost with this story line maybe she died and then became like new again?
curious if any one else has an analysis of the ending, but I found the story itself very moving...
I was thinking that. There's the allusion to the moon, and while the moon goes dark and then comes back for a new cycle, the fact is it's still the same moon. So father than the Hakurei dying and being replaced by a new Hakurei, she goes through the act of dying, but remains the same Reimu as at the start. Apparently it's unknown at the end of each cycle whether a new Hakurei will come or whether the old one will return, refreshed for their task.
Although Marisa loving her both emotionally and physically during that critical point seems to have had some impact on the outcome.