from all of reality
Neverland is home to lost boys like me
And lost boys
"Neverland is home to lost boys like me, and lost boys like me are free" is about how Neverland (Heaven) is the place where other people with similar problems are, and that Neverland (Heaven) is where they really belong, and may finally be free from all their past problems.
"Run, run lost boy, they say to me. Away from all of reality" is about how he runs away from all his worries, troubles, depression, anxiety or similar reasons.
me to believe
Believe in him and believe in me
Together we will fly away in a cloud of green
To
I think it represents that the angel (Peter Pan) tells the person: "It's gonna be okay, I'll be here with you." And "To your beautiful destiny" means: You will finally arrive where you belong.