There's no question that the Holocaust has enormous salience to Israeli Jewish people. But if you trace your roots to rural Arab Jewish families from Yemen or Iraq, your more immediate concern would be your own family's immediate viability in a world without Israel. A new rise of European fascism wouldn't be your problem; the fact that you'd have literally no place to go would be. You're sure as shit not moving back to Yemen.
Zionists even false flag attacked Iraqi Jews to help spur immigration to Israel:
https://www.middleeasteye.net/news/iraq-jews-attacks-zionist...
Further, it doesn't matter. Most stats I've seen suggest that the Mizrahim are at least a plurality of Israelis, and none of those people can return to their "colonialist home countries". By way of example, long before the current Gaza war, the literal first "official" action Ansar Allah took when it established control of territory in Yemen was to expel the very few remaining Jewish families.