That was a killer blow for the All Whites. One goal is always a chance; needing to find two was a different story altogether.
At 1-0 down at halftime, the All Whites still had a hope but they simply had to score and Winston Reid had banged a header just over the bar shortly before the break to suggest it was not beyond them.
The arrival of talismanic striker Chris Wood for the second half raised New Zealand spirits and he had one terrific moment, getting a sharp header on target but Peru's goalkeeper Pedro Gallese pulled off a smart save.
The second Peruvian goal was a killer, and one that the All Whites will know should have been prevented. The ball somehow eluded three defenders from a corner and they were punished harshly.
Even then Wood could have put a final spoke in Peru's wheels, but couldn't capitalise when put through after a Peruvian defensive slip. That would have made for a tasty last five minutes with Peruvian nerves jangling.
The All Whites were valiant but could have no quibble with the final outcome.
They knew what awaited them when they arrived in Lima, off-field distractions to the fore, but All Whites teams are used to battling in foreign climes.
It's unlikely that would have rattled them. In the end, the gulf in class told.
The Wood dilemma will have two distinct camps.
If his injury meant he was only good for 45 minutes should he have started, on the basis that if he could have got New Zealand's nose in front it might have been enough?
Instead, he came on at halftime, and his impact was immediate.
Calling it a chance lost, though, would be a stretch.
Coaches make decisions, some work, some don't.
This is a young All Whites squad and there were enough positives out of the campaign to bode well for four years' time.
In fairness, Peru deserved to end their 35-year World Cup drought.
They have felt far more World Cup pain than the All Whites.
Not that that makes this loss feel any better for Wood, Reid and their team.