Interestingly, Riyadh was looking to "normalise" relations with Israel. So it would have been fine, but...
Riyadh is a sworn enemy of the present Iranian regime, who are fighting Riyadh via their proxies, the Houthi rebels in Yemen.
The Iranian regime has of course expressed the wish to eliminate Israel from the map
Hamas (and Hezbollah) like the Houthis, are in effect Iranian proxies fighting against Israel
Hence the warming of relations between Riyadh and Tel Aviv, has among several motivations, that they share a common enemy in Iran and her proxies.
There is therefore a school of thought that the Hamas attacks on Israel on October 7th was in part motivated by an Iranian desire to torpedo the imminent normalisation of relations between Saudia Arabia and Israel.
If so, it has certainly postponed any such diplomatic thawing for probably at least several years and therefore been a success on that front.
...so who knows now? It is 11 years away so a lot can happen.