one of the most underrated moments in the show, I swear
Like, it's obvious that Emma's touch is what kickstarts Regina's magic, but what I love more is Regina's reaction. She fucking KNOWS it.
Like, there's no other reason for her to look at Emma in shock when the hat works. She's used magic a thousand times, and she was actively trying to use magic... she can't be surprised because it worked
she looks at Emma like that because she KNOWS that it was Emma's touch that made her magic work
I wish we could know what's going on in Regina's head after this... she knows that Emma is the product of magic, but she also knows that Emma is the savior and she was destined to break Regina's curse. So it's probably not shocking to Regina that Emma would have magic, but it's probably pretty shocking that Emma's magic could help Regina
What's also interesting, I think, is that up until this moment, Regina is still actively hostile towards Emma. Emma is literally trying to save her life, and Regina's still lying to her. Why would she lie about knowing who Jefferson is? She clearly doesn't trust Emma and likely still thinks Emma is there to destroy her life
But after this, Emma falls into the portal, and their next interaction is Regina welcoming her home, after absorbing the death curse to let her come back to Storybrooke in the first place.
Like, yeah, Regina is trying to be better for Henry, but that hostility towards Emma is gone after this moment.
I don't think that's a coincidence.