I have already pointed out that HeIsHere equates calling the Jews "the chosen people" to this. It is like others have pointed out, dispensationalism is attacked based on this point and it may be because some Christians understand "God's chosen people" as indicating the Jews are right and others are automatically wrong, or even that they are righteous and their enemies are evil.
Yes, God gave the land to Israel and Yes, God returned the Jews to Israel as a fulfillment of prophecy. But they returned as unbelievers who walk according to the nations. That is definitely condemned in God's word, you cannot try and live in Israel as the nations live.
Yes God is still dealing with them, yes all the promises will be fulfilled, but I think it is clear the whole world will come against them and many will die, if I recall only 1/3 of the Jews survive.