Normalizing with a racist and violent state that violates all international and humanitarian laws and conventions, illegally occupies Palestinian, Syrian and Lebanese lands, and desecrates some of the holiest sites in Islam would delegitimize Saudi Arabia in the eyes of 2 billion Muslims worldwide.
I personally hope that Saudi Arabia never establishes economic or political ties with Israel, at least not without a Palestinian state on 1967 borders as Saudi Arabia, and the Arab League, formally offered in 2002. Anything less is an insult.