Nothing excessive even needs to be initiated. USA are happy to quietly bomb Iran on an ad hoc basis with stand off weapons, since quiet bombing doesn't harm markets much but also sustains enough pressure on Tehran to limit their ability to project power across the Middle East. This, in turn, lets Israel continue with its plans.
Iran, for its part, certainly is capable of a devastating strike against any regional opponent, however, Iran too would incur additional costs if it did such an act recklessly (and Iran is economically already under immense strain), hence Iran focuses on the Hormuz as its only viable option at present.
An equilibrium of sorts has already been reached.
This low level, smouldering war, has an added advantage for Tel Aviv - it keeps Arabs and Persians permanently at each other's throats. Arabs, to a degree, seek Israeli help against Iran today. Tomorrow, that could easily flip - Iranians would easily (albeit secretively) use Israelis to further their ambitions against Arabs and the so called "sunni alliance". Some here already advocate for it.
The looney tunes have very much taken over the asylum.
