No, this agreement established a line that, for military purposes, neither army would cross, and was specifically not to be used to gain military or
political advantage, and
not to create boundaries. This agreement is no longer in effect, as it has been superceded by the Peace Treaty.
Excerpts (emphasis mine):
Article II
With a specific view to the implementation of the resolution of the Security Council of 16 November 1948, the following principles and purposes are affirmed:
1. The principle that no military or political advantage should be gained under the truce ordered by the Security Council is recognized;
2. It is also recognized that no provision of this Agreement shall in any way prejudice the rights, claims and positions of either Party hereto in the ultimate peaceful settlement of the Palestine question, the provisions of this Agreement being dictated exclusively by military considerations.
Article IV
1. The lines described in articles V and VI of this Agreement shall be designated as the Armistice Demarcation Lines and are delineated in pursuance of the purpose and intent of the resolution of the Security Council of 16 November 1948.
2. The basic purpose of the Armistice Demarcation Lines is to delineate the lines beyond which the armed forces of the respective Parties shall not move.
8. The provisions of this article shall not be interpreted as prejudicing, in any sense, an ultimate political settlement between the Parties to this Agreement.
9. The Armistice Demarcation Lines defined in articles V and VI of this Agreement are agreed upon by the Parties without prejudice to future territorial settlements or boundary lines or to claims of either Party relating thereto.
Article XII
1. The present Agreement is not subject to ratification and shall come into force immediately upon being signed.
2. This Agreement, having been negotiated and concluded in pursuance of the resolution of the Security Council of 16 November 1948 calling for the establishment of an armistice in order to eliminate the threat to the peace in Palestine and to facilitate the transition from the present truce to permanent peace in Palestine, shall remain in force until a peaceful settlement between the Parties is achieved except as provided in paragraph 3 of this article.
You are trying to make two arguments here, both of which are disturbing with respect to international law, or the dismantling of international law, or, perhaps, a unique application of international law only towards Israel (Jews).
First, you argue that international Agreements made between Parties should not be upheld nor recognized by the international community. This is the utter breakdown of law and order, or it is a special treatment for Israel, a type of lawfare applying only to Jews.
Second, you argue that the Armistice Line became the "de facto" border and thus holds some sort of legal weight, suggesting that borders can be created through
belligerent acts of armed force. (Ukraine will be disappointed to hear this, as will, no doubt, Lebanon and Syria.) The idea that a belligerent, invading force of another State with no legal right or claim to territory in a neighboring State can use acts of armed force to disrupt the territorial integrity of an independent state is not consistent with international law, and has harrowing implications.
Finally, I will add that IF "de facto borders" have weight, regardless of international law, then the "de facto borders" of Israel are the lines between Area A and Israel.