Only Catholic dogma still believe that it literally turns into the flesh and blood of Christ. Protestants generally acknowledge it as a symbol, not the real deal.
This also depends on the specific sect of Protestantism though, with some believing it is merely a symbol, while others believe it is the spiritual body and blood of Christ.
insofar as jesus was crucified in order to deliver humanity from sin, god gave up his own son, which is reflected in the ritual of the eucharist: jesus' blood and flesh gives sustenance to his church. i think it's a cool ritual personally, i'm not sure if other religions have the sacrifice of its own prophet as a foundational belief.