No, it doesn't. It occupies territory of other nations, and that includes its own formal territory, which is, as you know, is occupied Palestine. If somebody stole your grandparents' home that doesn't make it theirs just because two generations have gone by and they're still living in it.
It's expansion hasn't ended either, with multiple Illegal settlements growing unabated, their occupants harassing, shooting, and even killing the local Palestinian population for no reason and with impunity.
I am not arguing anything, nor justifying murder. I don't even justify the murder of the contents of the soup that was my dinner last night. That would also include not justifying the genocide that Israel has been visiting upon the Palestinians well before Hitler gave them an excuse to.