Dickinson uses shipwreck not as metaphor but as parallel case study. She's not saying "peace is like land to a drowning man"—she's saying "I do exactly what wrecked men do." The poem's logic: wrecked men hallucinate land, ease their struggle, and drown. I hallucinate peace, ease my struggle (spiritual? emotional?), and suffer the same fate. The "as I" in line 6 makes this explicit—she's comparing methods, not feelings.
The "fictitious shores" are the poem's crux. These aren't real islands mistaken for harbors—they're shores that exist only in the mind. The drowning man invents them, believes in them, acts on them. Dickinson confesses to the same self-deception: "I many times thought peace had come." Not "seemed to come" or "appeared"—thought. The error is cognitive, repeated ("many times"), and apparently ineradicable.
"Struggle slacker" does double work. Literally: the swimmer stops fighting the water, thinking he's saved. Psychologically: Dickinson stops whatever spiritual or emotional effort she's been making. The false peace is dangerous precisely because it feels like permission to stop. The poem ends before the harbor—we're left "at centre of the sea" with an unknown number of false shores still ahead. No rescue, no arrival, just the arithmetic of self-deception: how many more times will she mistake exhaustion for peace?