How did you get to be on a deserted island? A wizard did it. You were a powerful adventurer who knew too much, and the commissioned chancellor arch-mage decided to strip you of your powers and banish you to uncharted lands.
It turns out that not only did he strip you, he is summoning powerful enemies to kill you since he can't directly do it.
Redstone is powered by magic. Your character learns power by nature. The armor you wear is bound by magic to help stop projectiles and cripple your falls. You don't use the diamond directly, but more as using the integrity to bound a magic armor or magic tools for your character. In real life, Diamond NEVER breaks.
How does you character get off? Eventually he will use the diamonds he found to construct an airship to escape, but then the archmage decides that you're too powerful and risks his life to destroy you.
In the end you escape back to minecraftia, confront the king and you are freed under oath that the monsters will never be summoned to attack you again.