@hey-its-sybarite I can understand how elements of the I/P situation can sound similar to the bantustans, if you see the current situation and don't understand the history. Because the history is entirely different.
At no point were Arabs stripped of Israeli citizenship, nor are Gaza and the West Bank the least valuable land in I/P. There are also major elements to the conflict which don't really have parallels in the history of South Africa, namely the role of other Arab/Muslim countries and the history of Jews in the Arab/Muslim world.
A brief (and, by necessity, incomplete) history
--Islam in founded in the 7th century CE. It begins as a religion of conquest expanding from the Arabian Peninsula, and there are many longstanding Jewish communities in the lands they conquer, some of which are wiped out in horrific ways, with the rest allowed to remain as second class citizens. Thus, from the beginning, this is a relationship of conquest and oppression with the Jews as the conquered and oppressed.
--Eventually, the Arabic Muslim Caliphates fall and are replaced by the non-Arabic but still Muslim Ottoman Empire. Jews are still second-class citizens. The complexities of Arab Nationalism and Islamic Nationalism are one of many elements that I don't have time to get into, but that are crucial to understanding the situation.
(The Crusaders briefly conquer Jerusalem from the Ottomans, but that's not important right now.)
--At no point in the 1300 years of Muslim rule, nor of the 600 prior years of Roman and Byzantine rule, is Palestine a distinct land with a distinct political identity. It is a part of a larger empire, and suffers significantly from colonial neglect and exploitation.
--Meanwhile, the Jewish community, having been forcibly exiled by imperial conquerors, is spread throughout the world, but always maintains a cultural connection to Israel, and there is always a Jewish presence in Israel.
--In the 19th century, the modern Zionist movement is formed. This is far from the first Jewish attempt to return to the homeland or to regain some degree of sovereignty, but it is the first that will actually result in that sovereignty.
--The early Zionists purchase land from absentee landlords. This is almost always the least valuable land, often unfit for human habitation, as the Ottoman Empire blocks other purchases. However, much of this land is only poor because of the millennia of neglect, and proves to be extremely fertile and valuable once it is rehabilitated.
(Ecological repair on the scale is an unprecedented project, and the early Zionists certainly made mistakes, but that's another issue I don't have time to get into.)
--WWI happens. The British make deals with both Arabs and Jews to give them independence if they join the fight against the Ottomans, while plotting with the French to betray them both. When the Allies win, the Ottoman Empire is disbanded. Their imperial holdings were divided into zones of influence which the British and French would take over with the official goal of guiding them towards independence, though of course the reality was more complicated.
--This is the period of the British Mandate of Palestine. The British certainly don't create the tensions between the Arabs and Jews, but they do make everything worse.
--The highest ranking Muslim in Palestine, who the British treat as the leader of the Arabs, is the Grand Mufti of Jerusalem, Mohammed Amin al-Husseini. He and Adolf Hitler get along quite well, having similar views on the Jews.
--There is quite a lot of violence in this period. By the end of it, the Zionist consensus is that Jewish safety requires Jewish rule.
--In 1948, the British look at the mess that Palestine has become under their rule and decide they don't want to deal with it anymore. They hand the matter to the newly formed United Nations.
--The UN does a demographic study and then draws up the Partition Plan, which would turn the Arab-majority areas into an Arab state of Palestine and the Jewish-majority areas into the Jewish state of Israel, with Jerusalem and the surrounding land becoming and international city. The plan also gives Israel the Negev desert, because the only people who live there are the Bedouins, and the UN does not give a shit about the Bedouins.
--The Arab League, consisting of several Arab governments but not a Palestinian representative, reject this plan, stating that if the Jews attempt to declare independence over any part of what they consider Arab land, they will attack. They make it clear that this will be a war of extermination.
--Again, this is 1948. Several of these Arab governments were allies of the Nazis.
--The Jews declare Independence. Egypt, Jordan, Syria, Lebanon, and Saudi Arabia declare war.
--Living in a war zone is awful, and many Arabs flee.
--Israel wins the war-that is, it still exists when the Arabs are tired of fighting. The ceasefire line (later called the Green Line) becomes Israel's defacto borders. Gaza and the West Bank are not within these borders, but are controlled by Egypt and Jordan respectively, who annex them. Arabs living within the new borders become Israeli citizens. Arabs who are outside these borders when the war ends become the responsibility of the countries in which they now live or of the newly formed UNRWA. Many of them do face apartheid conditions under the rule of other Arab countries.
--Jews who are inside the Green Line when the war ends become Israeli. Jews who are in the areas Egypt and Jordan now control also become Israeli, as they are expelled form their homes and the newly formed State absorbs them. Over the following decades, Jews will be ethnically cleansed from the entire Arab/Muslim world. Israel absorbs them as refugees.
--The Green Line runs through Jerusalem, making it a divided city.
--In 1967, the Arab countries again try to destroy Israel. Israel wins son conclusively that, six days after the war starts, they control not only Gaza and the West Bank, but some land on the other side of the Jordan river, the Golan Heights, and all of the Sinai desert. Israel annexes East Jerusalem, reuniting the city, and the Golan Heights. The rest of the conquered land is not annexed, leaving open the possibility that it can be returned to Egypt and Jordan in peace treaties.
--It takes a decade for an Egyptian president to agree to a treaty with Israel. Israel returns the Sinai, but Egypt refuses to take back control of the Gaza Strip. The Egyptian president is promptly assassinated for negotiating with Israel.
--Later, Jordan makes a similar deal. They take back the land east of the river and agree to peace with Israel, but they don't want the West Bank, which remains under Israeli military rule and largely in limbo.
--Finally, in the 1990s, the Oslo Accords are signed. These facilitate a Palestinian government with control over certain parts of the West Bank with a plan to transfer control over all of the Palestinian territories (give or take some land swaps) to the control of the Palestinian Authority. This is the most self rule Palestinians have had and the most significant step towards Palestinian self-rule ever.
--The plan stalls for several reasons, including the Israeli Prime Minister being assassinated and the Palestinian president organizing a wave of suicide bombings and other terror attacks.
--Israel withdraws for Gaza. Hamas manages to win the first election, after which they murder all their political opponents and use the land as the world's largest terrorist base.
In conclusion: The situation in the Palestinian territories bears superficially similarities to bantustans, but it did not come about through Israel forcing Arabs into poor land, stripping them of citizenship, and washing its hands of them, but rather through... all of the above.