It cant be used as a bargaining chip because there is no real desire for peace
True, though the only basis for delaying the move is a threat to US national security. Not “endangering” some peace process. Presumably the President feels Israel not reaching an agreement with the Palestinians endangers US national security.
The single important event is the reception of President Trump in Saudi Arabia. The world was told in no uncertain terms that the Arab leadership in concert with the USA is going to bring about change.
That visit followed by the rise to power of a new Saudi King is a sea change in world history. Those events in effect eliminated the Palestinians as a significant force to be reckoned with.