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Mm... yeah.
I've long assumed there was some guilt component involved for some of Israel's international supporters (and particularly among Germans), but I could never quite work out how it could extend to supporting obvious genocide.
I think this sunk cost idea has some merit, particulatly in light of the fact that having to ignore inconvenient facts in order to continue that support actually dates back at least to the bombing of the King David Hotel, so that's actually 80+ years of sunk cost.