For starters Israel was a person. The original nation was comprised of 12 tribes. The Hebrew people, which primarily are unaccounted for today. So the modern nation is in no way a reconstitution of the former. Which was ultimately destroyed for killing Jesus and His followers. Christianity is Gods people, the House of God, the Temple, the body of Jesus. There is not Gods people and a separate group of Gods chosen people. There is one vine who is Jesus. Jesus is Israel. Those who belong to Him, His bride are joint heirs of the promises of Abraham.
There is no exclusions written in scripture to Christians. So if your conclusion is the promises to Abraham are manifested in property in the ME one must also conclude all Christians have equal rights and claim to that land. Which is not a tenet of Christianity and is not the manifestation of the promises of Abraham. So you can't conclude the modern political state that doesnt compromise the ancient people and the people there now dont observe the ancient practices is the ancient Israel nation.
I used to be a big time dispensationalist. There's a really good thread on the religious board title who is Israel. A lot of good posters shared some really good info there if genuinely curious.