Given that the UK will only ever have one CVF at sea, it could be argued that there is a fair chance it may not be at the right place at the right time.
Only one or two carriers implies the syndrome attributed to the RN in WWI post Jutland battle: must keep the dreadnoughts "in being," therefore can't risk 'em in risky offensive ops!
Therefore, right place at the right time = out of harm's way.