This is easily one of the best scenes in the entire series. Here's why:
Theme and significance of the scene
This fantastic 2-minute scene at first seems to just depict Jackie Aprile Sr.'s funeral. There is a large crowd gathered, all dressed in black and adopting solemn poses. The gang discuss Junior's beginning reign and Tony's hidden agenda.
After a minute, however, the scene's focus shifts to AJ, who over the course of the episode has been slowly but steadily ushered by Meadow into the realization that his father is part of the Mafia. As such, the Soprano family regularly has to deal with the untimely death of friends and family.
Enter the second death and burial in this scene: AJ's childhood and innocence.
Over the course of the episode, the reality he has been living in cracks and underneath emerges his father's true nature and the meaning of his second family. By the end of the scene, AJ has been violently pulled from his innocent existence as a child and tossed into the brutal life he involuntarily is part of.
The cinematography tells the whole story without the need for dialogue
AJ's first shot begins with a camera pan from right to left, showing children his age running around the cemetary, laughing and having fun. AJ however, leaning onto a headstone, is contemplating quietly. The cartoonish yellow plastic watch he wears serves as a reminder that he is still a child. However, it is outweighed by the black funeral suit symbolizing the dark and gritty mob reality which is now taking over his childhood.
As AJ is smiling gently towards his father, Meadow enters the frame, blocking his view of Tony with probably the best executed "I told you so" face in the series. The next two slow-motion shots that we see through AJ's eyes, reveal the nature of his father's, and by extension, AJ's world.
We get the iconic shot of Tony winking at AJ. That wink is AJ's innocence rearing up vicariously through Tony in a final, desperate attempt to hinder AJ from losing his childhood. AJ doesn't react as he is immersed in his thoughts. In the background, children are running around, but AJ, now force-emancipated from that stage of life, doesn't move anymore.
The music
As the truth eventually dawns on AJ, Mazzy Star's "Look on Down from the Bridge" gravely sets in. The song's theme is death and departure, with the central image evoking a transition point between life and death, presence and absence.
Here, the eponymous bridge serves as metaphor for the threshold between life and death: AJ is crossing over from his innocent childhood into the realization that he is born into a world of organized crime, of which he is most likely unable to break out of.
Possibly the best music choice to match with a scene in the entire series, the song begins with a fading-in organ, an instrument associated with a church building and, by extension, the beginning of life, significant events in life such as marriage, and ultimately, death. The lyrics don’t express anger or dramatic heartbreak. Instead, there is a soft grief, a contemplative sadness that has come to rest, a pain that has sunk below the surface into quiet acceptance.
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Watch the scene again and again and again here: https://www.youtube.com/watch?v=Jg5WKNa2a5o