Well, this looks a bitter defeat for Israel. Despite having leveled the entire city of Gaza, Hamas is stronger than ever and Israel is forced to retreat to secure the hostages they've promised to rescue 15 months ago.
The retreat from Gaza will prove to be devastating for Israel, as now Hamas has achieved victory both politically and strategically. Politically, Hamas has the entire support of Palestine, and most of the Arab world. Strategically, Hamas will now be able to use all funds given to them to "rebuild" by VASTLY expanding their tunnel network, which worked extremely well during this last siege by Israel.
Which Palestinian would want to rebuild on the surface if Israel can just bomb you? Everyone in Palestine will be committed to making an enormous underground city, which basically makes it impossible for Israel to ever root out Hamas.
From this subterrain city, Hamas will be able to stage future raids into Israel, causing havoc and destruction to repay the debt they feel Israel is owned. Should Israel invade again, they will find themselves being killed at a greater rate than before from a well prepared enemy.
I would say this entire conflict for Israel has been a total wash, however, the fall of Syria was a massive gain for Israel. So, win some lose some, and from Israel's perspective gaining Syria but losing Gaza is a great trade. They lost the battle but are still very much alive in this war.
That said, Hamas will continue to be a massive threat lurking in the shadows of Israel, and as soon as Trump is out of power the odds of another Hamas attack are quite high.
Israel still needs to develop an actual strategy other than pouring water down tunnels if they want to overcome Hamas. The pouring water down tunnels was always a joke, I called it out on day 1, Israel had no idea what they were doing if they seriously thought Hamas did not have basic mining technology. How did the Romans keep rainwater out of their mines? It's so easy to prevent tunnels from flooding with a tiny bit of engineering.
Also, despite having cut off all routes above ground into Gaza, the city was able to maintain survival for most of it's citizens for 15 months. Thus we must conclude that Hamas's tunnel networks extended into many parts of Egypt, or perhaps even Jordan, from where they could source supplies. They must have had access to something. And going forward, these underground routes will be expanded tenfold.
Hamas has a strategy that works, Israel does not, so we can expect Hamas to fully exploit their strength in the years the come. There will be 4 years of peace under Trump, because he's the peace Pres, and afterwards all hell will break loose again.