That is the correct way to understand US military. Projects like F35 aren't meant to produce practical weapons that are cheap and reliable. These are vehicles for funnelling as much public money back into the hands of the oligarchs as possible. Making really expensive toys in artisanal volumes and then charging exorbitant amounts for support is how you make money.
Aircraft carriers can project sustained power over land by sea. Including supporting ground operations. Chinese are aware of counter measures against incoming projectile threats.
A bully always makes sense when the other kid can’t punch back. Aircraft carriers are a wonderful tool as long as small actors don’t have the asymmetric ability to sink them.