"Israel considered itself under existential threat". Not everyone in Israel. Not everyone bought that hook, line and sinker. Some saw that the attack was more a function is Israel's own arrogance and stupidity, which will not be fixed by killing Palestinians or anyone else for that matter (like Israeli soldiers). But they're told "not now, after..." The "after" will have MORE problems that result from not taking care of that before going into Gaza.

Hezbollah didn't attack so it means nothing one way or the other. Why should they attack when Israel is making so many unforced errors?

Again, all that stuff is geopolitical fun. You are a Jew. You identify as a Jew by wearing Jewish idolatry. You're 0.2% of the world population. No one cares what you or I think. If they see a small minority they can blame for stuff they will. And they are. And we could have prevented it but we didn't, as Jews never have historically.