while not half as good as a catapult carrier, its several times over better than a SAG.
technology actually has made it more viable, with Osprey AEW.
Yak-41 disallow any surveillance a/c like an orion to get anywhere close, let alone attack,
and together with osprey strongly discourage an attack that hasnt first whittle down yaks to nothing,
by which time the carrier commander would have retired.
i think its really down to osprey AEW and a supersonic interceptor with range that makes all of the difference for survivability.
offensive wise, it works best serving as a protected bubble where Tu-22M can launch in safety and return safely