Turkey has roughly three times the economy of Israel and industrialized. And I have no idea why 5th generation is a silver bullet. Build a Mig-21 or F-5 with more efficient powerplant and integrate with modern weaponry. That would make a potent combatant for most missions. Won’t cost $200 million each too.
Here's a link to an unclassified video which gives a description of the F-35 capabilities vs a 4th generation fighter.
Build a Mig-21 or F-5 with more efficient powerplant and integrate with modern weaponry.
Where is the "more efficient powerplant" coming from? I would expect the U.S. Government and NATO governments would restrict engine sales to Turkey. So, the engines would have to come from Russia or possibly China. Same thing for weapons and avionics. IMHO, Russian and Chinese weaponry are inferior to F-35's.
Development time, at a minimum, would be 10 years. Then EMD and LRIP would be 5 years. F-35s are being delivered now.
Bottom line...Turkey is giving up the F-35 for what?