The Jews who founded Israel asserted a "right of return" as the fundamental logic of its creation. That right of return can be codified into the constitution of the state such that Israel always remains a homeland for the Jewish people. But it has to be clear that the fact of such a right of return would demand, in fairness, a right of return for the Arabs (and others) who lived there before the wars and, to some extent, their progeny. Then there has to be a secular democracy to protect this religious/ethnic homeland. Secular democracy is the most secure form of government, clearly. I think the assumption that Arabs would immediately tear the place asunder is exactly the kind of assumption White South Africans used and they have faired perfectly well (or as well as anybody in S. A.) well under democratic rule.
If it was important enough for people to preserve Jewish majority in Israel, Jews would move there. Hell, Pat Robertson and his bunch will move there, if it comes to that.
peace,
boddi