A rational way for Israel would have been to sign a peace deal with Abbas, applicable to Gaza when it returns to his control. Then Israel goes into Gaza, takes it over, cleans it up from all terror organizations, and hands it over to Palestine. There will be a few hundred IDF casualties, but this is a worthy project. It is more wasteful of Jewish lives to have a series of big operations which don't solve the problem. Of course, Netanyahu will not do it because he does not want to give up the West Bank. Let us wait for another Cast Lead, with new accusations of war crimes (because if the purpose is just to inflict damage, this is what it will come to).
Israeli PM to Palestinian President Abbas: We must fight terror together (Haaretz)