Peakstar is a character I've always found very interesting, despite how little we're actually told about her. I realize that the Nerevarine prophecies are open to interpretation, but assuming that the Nerevarine is the literal reincarnation of Nerevar Indoril and that the False Incarnates were also reincarnations of Nerevar Indoril who simply failed to fulfill the prophecies, Peakstar seems to pose a challenge. Based on in-game information, she died only recently as evidenced by the fact that her alleged death is still news and that many doubt it; based on the UESP, she seems to have died about thirty years before the game begins--but that still means she could have easily been a contemporary of an Nerevarine who is more than thirty years old. Did they both have the soul of Nerevar? Did the soul of Nerevar only come to the Nerevarine when Peakstar died? Or did the Nerevarine only "inherit" the soul of Nerevar when (s)he began fulfilling the prophecies?

Again, I know there are many possible interpretations of the prophecies; I'm simply curious how Peakstar and the interpretation that both the Failed Incarnates and the True Incarnates are reincarnations of Nerevar might be reconciled.

There's no discrepancy since the age, race, or gender of the Nerevarine is left a mystery. We can only allege how souls are inherited. My guess is the soul of Nerevar was confused and scattered, so Azura used the Moon and Star as a beacon and a rallying point for all his pieces to come together. Its not so much the failed incarnates failed, they were just early and had to wait for Azura, when to emerge on the scene as a coherent answer to and against the Temple's weakened gods and Dagoth Ur's terrors.