All true, but I would add one more that's probably the most important factor:
Israel is deeply divided. The Sword of al-Quds in 2021 exposed massive fault lines that only deepen two years later. Plenty of people who aren't Palestinians loathe Netanyahu for various reasons. This division means the risk of mutinies. Once the body bags start coming, many soldiers will either refuse to go in or straight up mutiny. And once the military mutinies, it's game over. Netanyahu understands this very real possibility, which is why they're just bombing Gaza back to the stone age. But the bombs and missiles will eventually run out and they'll have to enter in Gaza one way or another.