https://en.wikipedia.org/wiki/Pact_of_Umar#Content
Very clearly establishing non-Muslims as second class people, with all kinds of onerous limitations on their everyday life.
Calling this pact "protection" is technically correct, but then, the Protectorate of Bohemia and Moravia in WWII was a Protectorate as well.
I would call this document "subjugation of unbelievers who serve as your tax base, so it doesn't make much sense to kill them outright".