One of the remarkable aspects of Israeli politics is that even as Benjamin Netanyahu cruises to what is likely to be a landslide re-election later this month, the political figure there who continues to be treated as an international celebrity is not the prime minister. Rather it is Shimon Peres, the 89-year-old veteran of virtually every position in Israel’s government and currently serving in the symbolic post of president that remains the focus of much of the world’s attention. No one enjoys the spotlight more than Peres, something that comes across in spades in Ronen Bergman’s fascinating interview with him in the New York Times Magazine. The piece gives us an excellent summary of his views on the challenges facing Israel. But put in the context of the nation’s upcoming elections, the irony is that his answers also give us a good explanation for Netanyahu’s ascendancy.

As Bergman points out, Peres was the focus of intense pressure from some of the prime minister’s critics to run against Netanyahu at the head of a center-left opposition ticket. He wisely refused, leaving the incumbent without any serious rival. That has only increased the fawning on Peres from foreign observers who can’t stand Netanyahu. But Peres’s stubborn refusal to give up his illusions about the Palestinians tells us all we need to know about the inevitability of a right-wing victory. If Israel’s January 22 vote is one in which Netanyahu’s real rival is a person who won’t be on the ballot, it should be understood that the reason why those who are trying to unseat the Likud are failing has everything to do with Peres’s failed legacy.

Any discussion of Peres’s place in Israeli history has to start with the acknowledgment that his many achievements over the last 60 years put him in the first rank of his country’s leaders. As he notes with his characteristic lack of modesty, the record is impressive:

I do not think there are many people in the world who can say they managed to bring down a 600 percent inflation rate, create a nuclear option in a small country, oversee the Entebbe operation, set up an aerospace industry and an arms-development authority, form deep diplomatic relations with France, launch a Sinai campaign to open the Straits of Tiran and put an end to terror from Gaza.

But as much as he deserves as much credit as any person for Israel’s survival and growth, he seems to be one of the few Israelis who haven’t noticed that his Oslo brainchild and the “New Middle East” fantasy that he promoted in the early 1990s at the height of peace process euphoria was a tragic flop that led to much loss of life. Peres rightly points out that the existence of settlements in the West Bank wouldn’t prevent a peace deal if the Palestinians were willing to sign one. But despite all the evidence to the contrary, Peres continues to have faith in the good intentions and desire for peace on the part of Palestinian Authority President Mahmoud Abbas, bizarrely proclaiming him “an excellent partner” for Israel.

While Peres is the darling of Netanyahu-bashers who credit the president with thwarting the prime minister’s moves toward a pre-emptive strike on Iran’s nuclear facilities, his faith in President Obama’s good will toward the Jewish state is equally out of touch with mainstream Israeli opinion. His equanimity about the Arab Spring as well as optimism about Muslim Brotherhood-ruled Egypt also shows that he’s still living in the Oslo bubble.

This disconnect with both the reality of the region and the fact that the overwhelming majority of his countrymen have moved on from the failed Oslo process explains why the talk about a strong center-left opposition to Netanyahu on peace is more science fiction than political science. Of those parties that are supposed to be the core of this mythical anti-Bibi coalition, none actually support Peres’s vision. One, led by Yair Lapid, has explicitly rejected the politics of the left on foreign policy. The Labor Party that Peres once led has also avoided the peace process to concentrate on economic issues. Tzipi Livni’s Hatnuah is mainly about her ambition, not any real alternative to Netanyahu’s ideas.

Let’s also understand that Peres’s current popularity is largely based on the fact that he has abandoned electoral politics. For decades, Peres the politician was, despite his crucial role in so many Israeli successes, personally unpopular. Fairly or unfairly, he was seen as a schemer and the architect of “stinking maneuvers” that led to him losing an astonishing number of national elections. A desire to avoid adding one more to the total of those losses no doubt led to his decision not to challenge Netanyahu.

Though Peres won’t be on the ballot on January 22, his policies are. That they will be firmly rejected by the Israeli people should make it clear to his many admirers that although Peres deserves his place in the country’s history, the failure of his ideas are the primary reason why Netanyahu is about to win big.