Both the Palestinian people and Jewish people are indigenous to Israel/Palestine.
No one side has the right to commit genocide against the other. At some point, there will have to be a two state solution.
The current Israeli government is indeed genocidal. Cabinet ministers have referred to the Palestinian people as a whole (not just Hamas) as an enemy and the IDF is carrying out the genocide.
This also means that by proxy the US is funding the military of a genocidal regime.
Just as providing Hamas with weapons is a terrible idea, giving them to Israel in its current state is an equally terrible idea.