It just won't be great at anything and certainly not Carrier Strike if you think in US terms.
If you think in US terms none of our armed forces (exempt SF) can do much - not least the RAF. As a nation the UK does what it can afford to and as much niche capability to support the US effort. The US are extremely supportive of our decision to provide a CVF capability, albeit at UK levels of effort.
The much bigger debate in my mind is whether the RAF are really behind supporting the generation of the embarked capability for the UK or just p*** around squabbling about who flies the aircraft and how much time should be spent at sea?