Well the Palestinians are the people that have lived in Palestine for the past 3,000 years. They may have changed religions, but they are the same people. So it is their land, not the European settler's land.
The so-called 'Palestinians' are a polyglot of diverse native and immigrant peoples and tribes which include the descendants of those living there for centuries and those large numbers of job-seeking migrants who drifted into the region beginning in the late 19th Century as the immigrant Jews set up shop and began generating jobs and economic productivity and created a demand for large-scale unskilled Arab labor; a mixture of old-timer and newcomer blood-lines and families, drawn from various lands and countries surrounding Israel-Palestine.
And, as things stand now, they are the former owners of the land; having (a) sold-out to the Jews prior to 1948 and (b) lost their various wars against the Jews. They are now, in large part, and to all practical purposes, a state-less, land-less, displaced people. It is time for them to disperse into the surrounding Muslim-controlled countries and to begin new lives there for themselves and their families. The battle for Palestine is over. It was pretty much over by 1948-1949, and 1967 was the clincher.
Peoples are displaced from time to time as a result of warfare, but the world continues to turn, and it's now clear that the Jews of Israel are there to stay, and will eventually settle for nothing less than Eretz Yisrael, and that they have the muscle to realize their goal.
Pay off the Palestinians with some sort of wergeld, help them to relocate, let 'em go someplace where they're actually welcome, to begin new and peaceful lives, and be done with the goddamned thing - allowing the world get on with far more important business.
The pissant Palestinians simply aren't worth all this fuss, for all these years, in the larger and grander scheme of things.