It would be like America signing a peace treaty with North Korea and opening up diplomatic relations with it. It's a big deal.
Any agreement between Israel and an Arab state is an improvement in Middle East relations, so I certainly applaud it.
I have not seen the details about which part of the West Bank Israel has agreed not to annex, so I can't speak to that aspect of the agreement, but any agreement on this issue is a step forward.
I can't find any information concerning the UAE having declared war on Israel, or any armed incursions, or any deaths of Israeli or UAE soldiers. I am not seeing a US-North Korea parallel.
How is the issue of a Palestinian homeland coming along?