It is of course a failing state. It cannot define how it is "Jewish" and it certainly is not democratic in any Western seculare sense. But that is alright since the dominant ruling clique takes pride in their racism and tribalism. What Israel is an always has been and has simply now codiefied is an ethnocracy. The passage of this racist law simply moves what has long been de facto to what will be de jure. Not really much future here. The world is fedup with their hypocracy and self righteousness and has come to understand that they are choosing land over peace, occupation and racism over real democracy for all its citizens. Israel is paintiing itself into a corner and a society that was once respected has now turned into a pariah who best talent is turning friends into enemies.
4 UN peacekeepers injured in Sinai and taken to hospital in south Israel (Haaretz)
from the article: Labor expects new settlement freeze as payoff for loyalty oath