They would. Even with the current numbers Israel still maintains Jewish majority and also the proponents of this annexation also say it'll come hand in hand with a "de-radicalization" program. There are other tools Israel can leverage (e.g. a constitution) to ensure Israel remains the Jewish homeland while making Palestinians full citizens. These don't have to contradict. Either way the Palestinians have no interest in being equal citizens in the country of Israel so it's more or less a moot point, for now.