Thing is, peace is being sought with Israel today, in the form of the Arab peace initiative, and just like Sadat's early overtures, it's being ignored by Israel. Problem is, todays overtures would still be ignored and rebuffed - even IF the Arab leadership came to Israel to promote an end to hostilities, because in Israel today, there's no longer any priority set on peace with regional neighbors. Today, it's all about retention of its occupations and their settlements. Back then, the settlements had yet to acquire their strangle hold on the government...which today precludes any hope for the success of those overtures.
Four Libyan soldiers said killed in battle with Islamists in Benghazi (Reuters)
from the article: Where is Anwar Sadat when Israel needs him?