No, you’re right. They’re both Semites. The thing is, the Jews have been persecuted for two millennia, to the point that it’s a massive part of their culture. Half of their holidays are in remembrance of moments of past persecution. They need a word to define it, since neither racism nor religious persecution applies. That’s the really shitty thing about Netanyahu wielding it in defense of his actions. Besides putting a target on the back of Jews around the world that have no connection to Zionism, it dilutes a concept that has plagued the Jews for all of their recorded history.