The more I look into this conflict, the more I go back and forth on my position lmao. Essentially, yes, you have it right. However, you’re trivializing the post WW2 mandate for Israel. The entire world was carved up post WW2, and I don’t think it’s correct to say that this particular mandate should be reneged. If you look at it objectively, there was a ton of land transfer post WW2, so you’ll have to argue why Israel in particular should be repossessed.
Practicality-wise, Israel is a fairly progressive country that upholds LGBT rights, religious freedom (mostly), has a democratic government, etc. Palestine on its own would be just like any other Arab state and would not be as pro-human rights.