"The Jews would become a minority.
Israel was created to be a "Jewish State."

This is analogous to Christians in America. Fortunately America is not a Christian nation as John Adams so eloquently wrote. I don't think that Jews would necessarily be in a minority and this belies the fact that among Arab people, there are different cultural groups, one being Palestinian.

"It would cease to exist as such, and become one more Arab state."

Nonsense. This assumes that all Arab states are alike, more chauvinism.

"Jews are not treated well in Arab states."

Historically Jews were treated with respect in Islamic countries. Perhaps, today, with cause, Zionists are treated by some Arab states with hostility due to the Zionist national proclivity for war and oppression. Again, criticism of Zionist behavior can't be equated with Anti-Semitism because, 1. Arabs are a Semitic tribe and 2. Not all Jews like the Zionism being practiced in Israel today that has been co-opted by the dictator, Netanyahu.