My read on it is that the war in Gaza is going really poorly for Israel, even Israeli media is now openly admitting that Israel was defeated https://www.haaretz.com/israel-news/2024-04-11/ty-article-magazine/.premium/saying-what-cant-be-said-israel-has-been-defeated-a-total-defeat/0000018e-cdab-dba9-a78e-efef6ba10000
On top of that, Yemen managed to successfully blockade shipping which is having a significant economic impact, this is also compounded by the need for mobilization which pulls people out of the economy. So, on top of a military debacle, Israel is also starting to have serious economic problems.
The government isn't exactly popular, and Netanyahu is facing criminal prosecution when the war ends. So, I think he's trying to expand the war into a regional conflict which will force US to engage directly. Incidentally, this was exact same strategy that Ukraine kept trying at the start of the war to create a provocation that would force NATO to step in.
It's a move of desperation, and it's showing that Israel is in a very difficult position now.