(Unfortunately?) no. Even putting aside that the term is a lot more broad than a lot of (well intentioned) critics of Israel think, its been long used as a dog whistle by anti-semites. The novel “The Turner Diaries” for example, which is sometimes referred to as the bible of American neo Nazism, uses the term “Zionist occupied government” (ZOG).

The word Zionist in “Zionist Occupation Government” is used to equate being Jewish with the ideology of Zionism, depicting Zionists as conspiring on behalf of Jews and Israel.

https://en.wikipedia.org/wiki/Zionist_Occupation_Government_conspiracy_theory

And when Hamas leaders use the term Zionist, then they mean Jews more often then not either.