Interceptors lack range. Escort's range and effectiveness against CAGs depend on implementation.But those CAG will fall to interceptors and escort fighters. NAV is made of win.
In HOI2 NAVs also benefitted from the bug that of the entire fleet only the ship actually under air-attack would shoot back.
In HOI3 NAVs should suffer a lot more damage than they did in HOI2. It's really a matter of experimentation, but NAVs are going to be a lot less overpowered than they were.