Not really. Among the other rational solutions is to annex 20% of the west bank closest to 1948 borders.
Or, to forestall the demographic trends, annex all of the west bank and leave Gaza to be the Palestinian state. There are 1.2 million Palestinians in Gaza... such a move would set back these demographic trends by decades or longer. Not that I necessarily advocate these moves, just that things are don't have to be black and white, all or nothing.
It's demographically impossible.