I was just making a little exercize here imagining if this Euro edition qualified 24 teams as the next edition will, if Israel would be qualified. Obviously it is just hypothetical since it would be the two first teams qualified plus playoffs among the third places.
Anyways just making a simulation, there were nine groups, six of them had 6 teams while the remaining 3 groups had five teams on it.
This means that the NTīs that were in a six team group will most likely have more points than the five team group. So in order to balance this situation, Uefa determines that the results against the last place of the group are erased, including goals and everything. (so in this case it is better to have a stronger last pot team in our group).
So based on this I made a simulation where Israel would stand, reminding that Israel were in a six team group.
We ended in third place with with 16 points, 5 wins, one draw and 4 defeats scoring 13 goals and conceding 11. The last placed team in our group was Malta where we beat them twice (3-1 at home and 0-2 away)
This means that to compare ourselves with the third placed teams of the five team group our numbers would be: 10 points (deducing 6 points from both wins in Malta), 3 wins (we had 5 wins, deducting the wins against Malta) one draw and four losses, scoring 8 goals and conceding 10.
Now I made the same with the other groups and we ended up being the sixth best third place based on this rule (Again, I don`t know if this is the precise Uefa criteria, but anyways it is good to make some analysis).
Here is the list with the results against the last placed teams already taken off and the five group teams unchanged:
Norway 16 points 5W 1D 2L 10GF - 7GA
Hungary 13 points 4W 1D 3L 11GF -14GA
Armenia 11 points 3W 2D 3L 15GF - 10GA
Switzerland 11 points 3W 2D 3L 12GF - 10GA
Scotland 11 points 3W 2D 3L 9GF - 10GA
Israel 10 points 3W 1D 4L 8GF - 10GA
Belgium 9 points 2W 3D 3L 15GF - 14GA
Serbia 9 points 2W 3D 3L 7GF - 11GA
Romania 8 points 1W 5D 2L 8GF - 8GA
We could see that Norway had a very good campaign (they only lost on goal difference to Portugal), Hungary despite having the results against San Marino lost (they scored 11 goals in two games against) they did a good campaign.
Belgium were unlucky since they had a very tough group. They were one win away from the playoffs and had Germany in their group and they ended up behind Israel.
So in other words we were the 22nd best team in the qualifiers, in theory we would be qualified ( I am not considering host nations and not considering playoff system). Just an analysis