I’m not Israeli - but I grew up in a disturbingly similar political environment, Apartheid-era South Africa. In theory, conscription applied to all white males of “military age” (ie, a kid that’s physically capable but still too dumb to resist the brainwashing). However, in reality, the children of the rich and powerful could buy their way out of it through various means (such as Phony Stark famously skipping South Africa right before his 18th birthday despite the fact that he wasn’t as allergic to white supremacism as he claimed to be), while working class whites couldn’t. I’m willing to bet that it pretty much works the same way in Israel.
There are lots of reasons why the children of the rich and powerful could end up on the front lines in wars that are still mostly foisted onto the children of the poor - an abusive father might gaslight their children into it, or it may simply be a case that not participating in all the jingoism might have an effect on careers later on (which might be the case in Israel, considering that militarism is so entwined in politics over there that it would have seemed insane even in Apartheid-era South Africa). It could just be that Snot’s head has been filled with militarism and wouldn’t dream of not participating. But the rich do get a choice in whether their children will be “boots on the ground” or not.
And no… the Israeli political establishment is no more making “ethically and morally correct decisions” than Apartheid-era South Africa’s was - it is, after all, a white supremacist settler-colonialist state. The only way to make “ethically and morally correct decisions” is to not serve the Israeli war machine in any way whatsoever.