Are cellcom ads racist?

Jameel @ The Muqata has an interesting post about a recent Cellcom Ad depicting "the fence".
I often try to understand the perspective of people I disagree with, but in this case I watched the ad and I'm still scratching my head as to what anyone finds objectionable?

I know that some people like protesting for the sake of protesting, but surely there are much more offensive ads that you could protest against if you were so inclined.

Does ANYONE understand what the objection is?