Yep, that's a part of it. But they contend that it goes all the way back to the Exodus from Egypt when many outcasts of Egypt joined with them in leaving, after seeing the power of God demonstrated by Moses.

They are aware (at least in the link) that Herzl and the Zionists (Rothschilds) caused the creation of Israel as a way to gather all the Jews into one place as a more convenient way to exterminate them all at once.