The essay basically states that the boy lived a life of constant disappointment and despair. No mater what he did, he was predisposed to fail. In the ugly world in which he lived, his intense love/obsession for the neighbor girl only existed in his mind and was never tangible. The epiphany concluded was that "the single sensation of life disintegrates."
When I read the story I thought that the boy received his epiphany when he arrived at the bazaar and it was dark and disserted. Dark reveals how the boy was feeling; he was trapped inside of his thoughts, his obsession with the girl. Disserted by his family and friends. He lived with his Uncle and Aunt who did not care enough to remember that he wanted to attend the bazaar. Instead his Uncle came home after 9:00pm and then gave the boy a hard time about wanting to go. Disserted by his friends, as he sat inside watching them play in the street - consumed by his fantasies of the illuminated girl. He held her as an idealistic icon, resembling an angel.
I did not detect any part of the story as "disintegrating." I am not sure where the writer of the essay obtained that. I was able to identify with the character, in the way that sometimes you want something so much that you almost jinx yourself. Things don't always workout the way that they are planned; in fact, rarely do they ever work that way. Disappointment is a valuable lesson that everyone must learn at some point.