In the modern era, arguably few have suffered as much as the Jews, in large part due to their historic lack of a homeland and safe haven. That's not to excuse modern Israeli policy, and I find it atrocious that they treat Palestine this way especially because they know what it's like on the other side.
But at the end of the day, most countries that "fall" would just be assimilated into their conquering cultures. The fall of Israel would be another Holocaust. I doubt many of their people would survive at all, given the severe hatred much of the world has for them, especially in that region.
I don't think we should be arming Israel, but that's only because they can take care of themselves. Their military is so far and away above their enemies' that they could easily destroy every single country around them if they so chose. We don't need to stay involved there any longer.