It's a deal. Or, to be strictly accurate, it's a framework deal, which means that Iran and the six major powers with whom it's been negotiating over its nuclear research programme still have a few i's to dot and t's to cross. Even so, it's definitely worth celebrating. Not so long ago, there was a distinct possibility that Israel, with or without tacit US approval, might launch air strikes against Iran, with incalculable consequences for the region.
The desperate measures that Mr Netanyahu went to to achieve his election victory this week were a shock even to jaded old Middle East observers like me. By re-electing him as prime minister at the head of a right-wing coalition, Israeli voters look more than ever as if they have chosen to model themselves on the English football club Millwall, whose supporters' best known chant at matches is "No one likes us, we don't care."
Netanyahu was not making a case against any deal with Iran. He was making a case for a tougher deal with stronger and clearer conditions that does not leave Iran within touching distance of a nuclear weapon. He called for, "A better deal that Israel and its neighbours may not like, but with which we could live, literally."
Israelis need to confront a truth that too often is ignored: they too have their zealots, and their murderers. They too have spokesmen who glorify mass murder. When they recoil in horror from the triumphalism of some Palestinian groups, they need to remember - just occasionally - to look in the mirror... the sad truth is that Israelis have grown far too confident that their overwhelming firepower - and the continued support of the US Congress - makes them invincible. It does not.
Apparently we are presented with two monochromatic sides of this argument, Team Israel vs. Team Gaza, and failure to select one on the basis of who is or is not a terrorist means that your opinion is unlikely to rear its humdrum head in mainstream news or grant you a few thousand followers on Twitter.
Let me be clear that the answer does not lie in another military strike against Gaza that kills hundreds of civilians on beaches and in hospitals as much as in hideaways and on the battleground, wreaks havoc, puts paid to all arguments about proportionality as I understand them from my law years and then concludes balefully with a ceasefire that is not unlike previous documents.