here are a few samples of why your thoughts are incorrect:
 "1948 marked the NAKBA of the Palestinian people: the state of Israel was established over the disposession of hundreds of thousands of their life, land, ..." see description for www.alnakba.org
 "nakba" revolves around political accusations that arabs were ethnically cleansed and disposessed while disregarding that the same thing was happening to jews on arab land or that jews were defending themselves from a (not so well) organized arab attempt to commit genocide on the jews.
 the only agenda is the arabization of israel (even if a "state of palestine" is created), not the circumstances of the refugees. 
 the nakba day - Nakba Day
 nakba on arab wiki - israelis call the war "war of independance" arabs call it "al nakba". .
i hope these, together with my previous comment, explain it better why it has an insulting intonation to israel and why it's a politicaly charged term and not an NPOV one (even arab wiki writes down both POVs on this).