Whoever controls Israel controls the Suez Canal which is going to be a centi-trillion dollar per year income stream over the next 50 years.

So there is a payout from "owning" that waterway.
But the economics might say it's not worth it, you're spending a Trillion dollars to earn an income stream that produces a few billion dollars a year.

Economics 101 says you're getting ripped off, just let the Muslims enjoy proceeds from taxing every ship through the Suez Canal.