There will be no any kind of serious response without cabinet (political echelon) approval. Right now it's just more intensive than usual elimination of targets, more or less within existing parameters.
Bibi was abroad, and no one is going to start a war (or a response potentially leading to it) over the phone. He is now in his way to Israel. The decision will be made. The more serious response, the more time it will take for preparation.
Any response, which will be perceived any less than by order of magnitude more serious than Hodeidah, will be necessarily seen locally as unforgivable failure of leadership across political spectrum.
I don't know whether this will lead necessarily to a full-scale war, including a ground invasion, at this point in time. But with very high probability it will. The time frame for all of this to get resolved is September, the beginning of the new school year - if Israel fails to return its civilian population until then, it will be see locally as strategic defeat (more or less explicitly stated).
In other words, we cannot afford this kind threat persisting on our border. Iran cannot afford any voluntary change in status quo, which will be automatically seen as defeat/retreat/loss of face. This is a direct collision course with no conceivable alternatives.