We gave Germany back to the Germans, and Japan to the Japanese...
That worked out pretty well.
To say that Zionism became moot with Israel's recognition is like saying the Confederacy became moot with Lee's surrender at Appomatox. Sure, not organized anymore, but what's with all those Confederate Battle Flags?
Zionism is a real and living heritage, a motivating spirit. Heck, more than that: what about Ariel Sharon? Talk about your living legacies!