We have four opinions here. 1) Due to it’s Zionist nature, the State is unraveling. 2) Zionism ended when the State was created. 3) Zionism and the State are the same problem. 4) The State is here for all Jews and that is to be respected.
I fudged a bit for cohesion. Therefore, I did not name the opinions. I want to point out worthy thought. Only #4 is supporting the state as is. And that opinion is irrespective of Zionism. So, Zionism is about what could be, not what is going on currently. Now, there is a separate debase going on if the Zionist ideal is a positive or a negative to the Torah ideal.
A nihilist would say there is no real argument here. Only fantasies or nightmares. But to have the argument in any meaningful fashion, would require an agreed upon understanding of our history in the diaspora.