As a Zionist who is deeply critical of Israeli policies post-'67 wrt Gaza & the West Bank, I would argue that perhaps it didn't give them the right, but it did give them the imperative. A contradiction? Maybe. One point is that Jews weren't marginalized in Europe, they were murdered. Marginalization is what happened in the previous 1000 years & led to murder.
As Irgun-founder Ze'ev Jabotinsky opined, if the Jews can't create a homeland in Palestine, then they can't anywhere else.
Finally, if the Palestinian people have a right to the land (which I believe they do) then it also by right of conquest, on the part of their ancestors. Principal difference between Palestinian & Jew is simply the amount of time that has past since they wrested control of the land.