The leaker said that the Green Goblin kills Aunt May with one of his pumpkin bombs. He targets her specifically, and it happens “pretty suddenly.” The same villain, who will lead the others against Spider-Man, also throws a bomb on a balcony where Ned is. The balcony falls with Ned on it, but we don’t get to see whether or not he survives.
But it gets worse.
Apparently, Happy Hogan (Jon Favreau) also dies in the movie. It’s unclear how it happens. But there’s an explanation for all of this. The leaker says that it’s a fresh start for the MCU’s Spidey, a soft reboot. The people closest to him die, and Peter has to see it all happen. Not only that, but Doc Ock supposedly destroys Peter’s robotic suit that Stark made for him, incorporating the nanites into his tentacles.
But even without the deaths, Doctor Strange (Benedict Cumberbatch) completes the spell at the end of the movie. Everyone will forget that Peter is Spider-Man. They don’t even remember who Peter is. That is the case for MJ, who will survive No Way Home but supposedly has no memory of Peter.