Recognition of an exclusive Jewish nationality for our country, which Netanyahu is demanding from the Palestinians now, is nothing but a demand to recognize the legitimacy of racist discrimination against the Arab minority in Israel. If this minority had been awarded equal rights, including water rights for agriculture, equality in education and health care, and equal employment opportunities, there would be no need to go back to the Nakba. It would become a wound like other past wounds, like the partial extinction of other national minorities (and after all, there is room to provide compensation for disasters, as per tort law. )
But the State of Israel does not want to recognize the Palestinian minority within its borders because it seeks to continue to grant privileges to Israeli Jews and to Diaspora Jews, at the expense of the cheap labor, land and water of its Palestinian citizens. All this is in order to say that recognition of Israel will come only if we recognize the equality of the minority in our midst. They are not settlers. They were living here before we were.