If zionism means "we have the right to live and worship in our ancestral homeland" only and has nothing to do with power, government, control, etc. then that sounds fine to me (I mostly think humans should be able to do that everywhere). I know some people believe in zionism in that sense.

As soon as it becomes exclusive/exclusionary or involves control or power, or involves "chosenness", it's into racist territory IMO.

edit: I can't spell.