Almost everyone who has the experience interprets it as an after-life and as a 'being of light' and as 'out of body' and so on. The interpretations are the same among them all.
Just because people interpret these phenomena in a particular manner doesn't mean that the interpretation is correct. And I think there is an element of circular argument here - I suspect people who have these phenomena when profoundly ill may interpret it as 'after-life', but of course the same phenomena occur in other circumstances where there may be temporary oxygen depletion/CO2 build up in the brain that isn't associated with death or illness. And the same phenomena can be induced experimentally. How do these people describe it - I suspect less likely for an airforce pilot to describe it as 'after-life' even though the phenomena, induced by extreme g-force, is the same.
And, of course, many of us will encounter out of body experiences when we dream - do we ascribe this to some kind of supernatural cause. Nope, we understand this to be due to brain activity that occurs as we sleep.
What would you interpret it as and why would that be more correct?
Err - physiological phenomena that occur under circumstances where there is mild to sever oxygen depletion and CO2 building up in the brain blood supply. And of course in every case where we are able to talk to the person about it, this isn't a feature of death because the person does not die. Indeed when induced by high g or experimentally the person isn't even 'near death'.