I personally don't like that translation. Isaac lived; he didn't die. The story of the עקידה Akeida aka עקידת יצחק or "Sacrifice" sic of Isaac, Bereishit, Genesis 22 is what is read on Rosh Hashanah.
It's no secret that Yitzchak (Isaac) wasn't sacrificed, killed and I also can't stand when people refer to him as a young boy when he was a grown man in his thirties. Of course to Abraham, his younger son was a "lad;" I refer to my youngest child who is about to celebrate his thirtieth birthday as my "baby." But Isaac was a grown man and he was the one G-d was testing. He asked the crucial question, and Abraham gave him the answer we must learn to accept:
ח וַיֹּאמֶר, אַבְרָהָם, אֱלֹהִים יִרְאֶה-לּוֹ הַשֶּׂה לְעֹלָה, בְּנִי; וַיֵּלְכוּ שְׁנֵיהֶם, יַחְדָּו. 8 And Abraham said: 'God will provide* Himself the lamb for a burnt-offering, my son.' So they went both of them together.
*bad translation, יִרְאֶה means "to show," as in the Torah Portion לך לך
The entire אַבְרָהָם Abraham story is about showing and seeing. The Hebrew root of the word is ראה and those very same letters can be found in Abraham's name.
א וַיֹּאמֶר יְהוָה אֶל-אַבְרָם, לֶךְ-לְךָ מֵאַרְצְךָ וּמִמּוֹלַדְתְּךָ וּמִבֵּית אָבִיךָ, אֶל-הָאָרֶץ, אֲשֶׁר אַרְאֶךָּ. 1 Now the LORD said unto Abram: 'Get thee out of thy country, and from thy kindred, and from thy father's house, unto the land that I will show thee.
This is the story of Isaac's acceptance of G-d and that G-d would show him how to lead and what to do. Isaac bound himself to G-d taking on the dynastic responsibility. I also saw this scene as parallel to when King David begged G-d to allow him to build a proper "house" for G-d. G-d's reply was that He would do something even better for David. David's son would build the house, the Beit Hamikdash, Holy Temple, and that would establish David's dynasty.
The Place, המקום HaMakom, was the very same place, הר מורי'ה Har Moriah, today known as Har Habayit The Temple Mount.