The Arabic phrase "From water to water, Palestine will be Arab" ("من المية للمية فلسطين عربية" or "min el-maiyeh lel mayieh, Falastin arabieh") doesn't suggest a call for equality.
Jews make up only 0.2% of the world population, and Israel comprises just 0.015% of the earth's land. Jews have no ambitions of conquering other lands. Those who came to Israel as part of the Zionist movement, from Europe and the Middle East, were often stateless and faced violence. Most Israelis are descended from those refugees, making them particularly sensitive to calls for ethnic cleansing.
The Arab conquest of the Middle East, Levant, and North Africa is a prime example of enduring settler colonialism, now ruling over 12% of the world's land.
More than 70% of current civil wars are fueled by political Islamism, many with genocidal aims. Forcing Israeli Jews and Palestinian Arabs into one country is a recipe for disaster, especially when polls show most Palestinians prefer a state where Jews are second-class citizens or absent altogether.
I think the best solution is two states in an EU-style confederacy. Both Palestinians and Jews would be able to exercise cultural and national self-determination but have the right to live anywhere. https://www.alandforall.org/english/?d=ltr