If we’re talking Bronze Age, then the exodus didn’t happen. Or rather, only a small handful of refugees showed up and their story eventually became assimilated into Judaea’s and Israel’s cultural narrative.
Tracing ancestry back that far is problematic, but both cultures have equally valid and long standing claims to the region.
It’s like the Hatfield and McCoy feud, except it’s existed since the start of the Bronze Age (or earlier,)
In more modern history, Palestine was a British colony taken during ww1 as the leftovers of the Ottoman Empire, when the Palestine Mandate was done in an attempt to back out, and Jewish militants attacked everyone involved eventually leading to the creation of the current State of Israel.