Probably not. A very real and fully documented characteristic of much Arabic culture is emotionalism and exaggeration. You can see it in any number declarations surrounding the current and past conflicts. Bagdad Bob from the First Gulf War comes immediately to mind. Arab states or Arab actors are going to do some dramatic fill in the blank thing. It almost always turns into something far less. Even Winston Churchill wrote about it in "the River War."- "How dreadful are the curses which Mohammedanism lays on its votaries! Besides the fanatical frenzy, which is as dangerous in a man as hydrophobia in a dog. there is this fearful fatalistic apathy."
I am sure the Hamas leadership had convinced themselves that by launching a few thousand insurgents into the Israeli hinterlands would spark a regional conflict from which they would somehow benefit. The reality is, their martyred fighters sowed the wind and they are reaping the world wind. Their potential allies, are very carefully doing absolutely nothing to trigger a major Israeli or US response. Meanwhile, the 2 million Palestinians caught in the middle trudge along in abject apathy.
But there is indeed a clock ticking - but slower than usual. In both '67 and '73 a ceasefire was forced upon Israel by the United States. This one is different to a certain extent thanks to Hamas. I suspect, the US will allow the IDF to complete eradication ops in Northern Gaza before exerting pressure that Israel can't ignore. Moreover, there is no meaningful state actor, such as the Soviet Union, to cause the US to act percipiently. And no, Iran is not a meaningful state actor.