Wrong.
Missing context. The claim ignores the fact that Israel has only a fraction of the COVID-19 cases that it had in January, before vaccines were widespread.
apnews.com
CLAIM: The newest Israeli data on COVID-19 infections indicate a complete vaccine failure on every level. The data from Israel shows that nearly all serious cases and deaths are among the vaccinated.
THE FACTS: Israel was one of the first countries to vaccinate a huge swath of its population against COVID-19. As of Sunday, 56.3% of new cases in Israel were among vaccinated people. But that statistic reflects the fact that the majority of the population is now fully vaccinated.
Experts say the country’s high vaccination rates are keeping case numbers down and reducing hospitalization and deaths even as the delta variant is provoking an uptick in infections. Data from Johns Hopkins University shows Israel documented 1,118 new cases on July 21 -- which is less than a tenth of the 11,934 new cases the country had at its peak on Jan. 27, before vaccines were widespread.