I would have thought the Invincible class 'through deck cruisers' & Sea Harriers had proved their worth !
Agreed, lack of airborne radar & supply to secondhand buyers ( since when has that been a priority ? ) but surely the 'decline' only set in when the FA2 was scrapped, there had actually been a capability improvement - A-G could have done with some more development - though I don't know anyone who's willing to put their whatsits on the line betting that the future carriers happen.
Oh, and if they do, please, please rename them - it was embarrassing enough sailing with a girlfriend past HMS Beaver - and I doubt even the toughest crew wore named hats into Portsmouth !