There are different views. This is the most uncluttered view that I’ve found.

The distorted view seems to make a distinction that leads to a salvation by law in the OT and by Grace in the NT. Yet Abraham, four hundred years before the law was give, was declared righteous and the father of faith. That disproves the view of law based salvation.

Based on Paul’s writings national Israel was a type of the church/body of believers throughout time. Throughout the OT and God flips the the script and always shows the blessing going to the parison/people of promise rather than the person/people of blood or right. An example: Jacob rather than Esau received the blessing.

Paul develops this theme from the OT text showing that it is the is the people of promise rather than the people of birthright. John in the prologue to the Gospel says the same thing in John 1:9-13.

It’s interesting to talk to people who have done missionary work in and around modern Israel. From all appearances it is a fully secularized Godless nation.