First, if they were Minoan that would have been recorded in the annals of civilizations like Egypt and others which kept good records. The Egyptians and others of the Eastern Mediterranean had long links with Crete and the Minoans. It doesn't stand to reason that the Minoan could launch such a large movement (in the sense impact so many areas of the Eastern Mediterranean) and no one notices.
Secondly - the nature of the sea peoples attacks, assaults suggests a group of people moving, migrating - not looting and returning. If the Minoan were doing this - why would they not return with their gathered spoils to their homeland. If they did return - where is the physical and archeological evidence?
Those are the pressing ones that come to mind first. There's also the question why would the Minoan embarknon something so foolish as invading Egypt. Egypt was what a hundred times bigger? If you failed - first you'd expose yourself to retribution and secondly - you'd weaken yourself severely leaving you exposed to others.