No, it isn't.
And Israel's existence isn't due to Hitler. Things were in place to establish Israel before WWII, so it's possible that if Hitler never came to be that Israel would've achieved independence before 1948. I get why people think Israel only came to be because of Hitler and that war, but it really doesn't make sense that an utterly decimated people would be able to create a fully functional nation from scratch in only three years. There were troubles, but Israel got through because there had been building for that exact purpose for decades. That planning was not spurred on by Hitler.
Furthermore, I should point out: If the Palestinian leaders sought peace, we wouldn't be talking about "punishment". The Palestinians have issues, but it's far more of a self-inflicted punishment when you really get down to it.