The strategic concept is the same: to terrorize the civilian population by unremitting attacks from the air, sowing death and destruction. This poses no danger to the pilots, since the Palestinians have no anti-aircraft weapons at all. The calculation: if the entire life-supporting infrastructure in the Strip is utterly destroyed and total anarchy ensues, the population will rise up and overthrow the Hamas regime. Mahmoud Abbas will then ride back into Gaza on the back of Israeli tanks.
In Lebanon, this calculation did not work out. The bombed population, including the Christians, rallied behind Hizbullah, and Hassan Nasrallah became the hero of the Arab world. Something similar will probably happen this time, too. Generals are experts on using weapons and moving troops, not on mass psychology.