Here’s my little account of the whole Gaza/Israel 2014 situation :

3 kidnapped, Israel rounds up 350 Palestinians, killing 5 (not sure if hamas or just civilians) in the process and arresting most of Hamas commanders in West Bank, without any proof whatsoever of Hamas or even pali involvement, Hamas starts sending some rockets being jimmies rustled, Israel does a raid (not sure if in West Bank of Gaza), kills 7 Hamas, rockets intensifies, and then escalation.
But to be honest, the real reason is mostly the agreement between hamas and abbas accepting a two state solution & recognition of Israel that happened just a few weeks before. Those 3 kids being a false flag wouldn't surprise me, but we'll never know.

what is this war for then?

My bet is they used that excuse (the 3 teens) for blowing up the hamas / fatah agreement, that would have forced them to become rational and find a political solution to the situation, which they don't want and can't win, because muh promised land.
>also : oil fields in gaza territorial waters.

Hamas & fatah came to an agreement to create a unity government in April and reinforced that agreement in May.
http://www.haaretz.com/news/middle-east/1.586924
http://www.jpost.com/Diplomacy-and-Politics/Hamas-Fatah-strike-deal-on-ministers-in-new-Palestinian-unity-government-352545
Numerous declarations by officials said that they'd agree for a 2-state solution in the 1967 borders and that they would recognize the State of Israel.
http://www.theguardian.com/world/2014/jun/02/palestinian-unity-government-sworn-in-fatah-hamas
In essence : all the points blocking a long term peace were moot. The "they want to destroy us" point was mostly based on hamas persistence in not recognizing israel, despite agreeing to a long term truce in the 1967 borders since 2006 I think. That argument was dead.

Problem is Israel doesn't want a 2 state solution. In January, a bill paving the way to a 2 state solution was rejected by the Knesset.
http://www.jpost.com/Diplomacy-and-Politics/Knesset-rejects-Two-State-Solution-Bill-337488
I still haven't seen any declaration by Israeli Leaders saying they would accept this solution.

I see 2 reasons to Israel not wanting that solution.
First is that they'd need to give back lotsa occupied territory. That solution also implies a right of return for the palestinians, which they don't want. Not sure what that right means exactly, but if deplaced palestinians can come back to their old land in what is now Israel, they might find themselves outnumbered by Arabs. Might be the same thing if they only have the right to come back to the new State of Palestine.
Second is more rooted in zionism and religion, so not sure if it's applicable, but its their idea of Greater Israel. Various ancient description of that region exists, but the biggest one I saw would go from the Nile to the Euphrates. It's a controversial subject, but if it has any roots, Israel having to settle on defined borders would stop that expansion plan immediately.

Back to the real politics : if Fatah / Hamas comes to the table and in front of the International Community saying "here, we accept all of this", but Israel refuses to negotiate for whatever reason, they'd be revealing themselves as the conniving rats they've always been. Support would drop astronomically because the Palestinian came with perfectly reasonable demands, showing they truly want peace, and Israel's move would be seen as a slap in the face.
Maybe even the US would lessen their support because even though "Israel is the greatest ally", the general public would see that and you can't go against the will of your people eternally.
There's also a lot of Israeli that just want peace, and if their leaders refused that offer, they might not be too happy either.

So, instead, what is best ? Well, war, because on that front, they have the upper hand on the Palestinian for sure (tanks, f16s, etc...). Problem is they can't just annihilate Gaza : since Cast Lead, that same international community might frown upon massive destruction, which is what is happening right now, much concerns. But the IDF can’t go in Gaza all Navy SEALS and remove Hamas without bombing the shit out of Gaza first, because that’d mean gorilla warfare and many dead troops, which the Israeli public won’t accept if there’s no real threat.

That’s were those 3 kids come in : it gave them a reason to provoke hamas without any proof of their involvement in anything, those dumb sandniggers reacted launching rockets into parking lots, much horror, begin protective edge, display the magnificent light show known as Iron Dome to the world, let’s roll the propaganda (« we’re only protecting ourselves », « we’re showing great restraint », « we’re warning them with bombs and flyers »), and casually bomb, maim and murder civilians while Israelis are dying of heart attacks because they’ve been startled by the sirens and their poor pets have PTSD.

Sidenote : ISIS affiliated group claimed the kidnapping.
http://www.timesofisrael.com/jihadist-group-takes-credit-for-teens-kidnapping/
>“We are not a partisan group like the humiliated organizations, many of whose leaders sold their religion for the benefit of politics,” the communique read, in a critique of both Fatah and Hamas.

The final result will be hundred of dead palis (which might lower their support to Hamas considerably), deep international concerns, and hamas will either be completely removed, or go and say to Fatah « see, the jews don’t want peace ! » and break the deal about the unity government, 2 state solution, etc… Whatever the outcome will be, unless Israel goes too far (which might still happen, the reaction of their representative to the UN was really weird), they’ll walk out of their with another get out of jail free card saying « see ? the arabs don’t want peace ».

rinse repeat in 2 or 3 years.

What I think of all that :
Hamas captured a soldier. They’ll pull a Gilad Shalit on Israel and exchange him for hundreds of Palestinian prisoners. They also seem to be overpowering Tsahal in gorilla from the accounts I’ve seen (accounts being heavily biased on both sides).
Israel is losing the media war, because people like Jehad are brave enough to show us the truth in real time. Their lies, propagated via Hasbara groups or JIDF-like entities are easily debunked, and the general people are being redpilled (4 million tweets for #GazaUnderAttack against 200.000 for #IsraelUnderFire, key).
They are also losing on the diplomatic front, they were BTFO by everyone at the UN (except the select few).
Finally, Jews outside Israel might loosen their ties with Israel once they realize that their unconditional support is fueling anti-semitism all around the world.
Are we seeing the end of that regime ? I sure hope so, anons, I sure hope so.