Very different. On the one hand, European Jews arrived in Palestine escaping almost certain death. This was certainly the case after 1933 when most of them arrived (pre-48). Without their arrival, most would likely have perished in the camps and the creation of Israel would have been impossible. As a consequence, Mizrahi Jews would have languished under Arab nationalist dictatorships or been forced to migrate to the West. They did not arrive in a alien land specifically targeted for settlement by a colonial empire, they had millennia-long religious, cultural and emotional ties to the land, and made the move entirely on their own initiative. The fate of white Europeans - Dutch and British - who chose not to settle in South Africa was, well, uninteresting let’s say. To those who did not go, it remained an alien land.
On the other hand, the response of the ANC to white dominance was to come up with an inclusivist national liberation program in which white South Africans were assured of absolute equality in a multi-ethnic, denationalized state. The Palestinians have not come up with a comparable program. Their national identity is defined as Arab and Islamic, and so is tied to the rest of the region with strong exclusivist bonds which offer nothing to Israeli Jews beyond the prospect of at best languishing as a religious minority in a wider Arab sea - given the fate of other minorities in the region, it’s not an enticing prospect.
On this forum I have stated many times that the Palestinians should launch a movement for full equality within one-state. Campaign for Israeli citizenship, attempt to form bonds with Israeli minorities and liberals, etc. I don’t see how any reasonable person could oppose such a movement in principal, whatever doubts they might have regarding its implementation. At the same time, I doubt it will happen anytime soon, for the reason given above.