Welcome to "real world"
land based NAVs would defeat any carrier fleet thats why you dint see them much in europe.
As much as air based aircraft are serious threat to any fleet, NAV being able to bomb the crap out of fleets at will is somewhat unrealistic for several reasons:
1. It is basically impossible to form up and coordinate very massive formations and bomb with any reasonable precision, even more so since ships tend to be relatively "small" targets to perform proper level bombing at altitude + it's a moving target with ability to "dodge". Performing 1000+ aircraft industrial raid is diffrent as the target is static, the flight is somewhat pre-planned and it occurs within the course of 6-12 hours total, while roughly speaking the game acts as all bombers would drop their load at once and repeat it over the hours. This also presents in-game logic problem, as if bomber has no ordnance it's quite useless -> return to base. Sure they attack in waves, but given the moving target the odds are the attack is more or less out of sync over the course of time.
2. WW2 torpedoes required aircraft to fly low and slow and severe emphasis on both words (ignoring later US torpedoes). Keeping constant 50m altitude with relatively small room for error (just for the sake of example) with let's say 250km\h speed makes you pretty neat target when flying in a formation once you're spotted, and the (common) torpedo must be released at least 1500 - 2000m* prior the target. Combine this with relatively slowish torpedo, unless the (war)ship is under major harassment from other aircraft or under fire for other reasons it's not too difficult to perform basic evasive manouvres. Bombs on the other hand pretty much require you to go in close. The odds for sinking the ship are greater, but the odds for going down in flames are also proportionally greater the closer you are to the target.
3. While it's gameplay related quirk, most TACs can do the same as NAV realistically speaking as per 1930s 1940s technology.
While I am not trying to discredit air force threat on naval strategies and some other things, how many genuine warships land based aircraft sunk during the war besides Prince of Wales and Repulse compared to carrier based aircraft? The ratio is pretty small, merchant shipping is another story and even with PoW and Repulse sinking two major warships vs ~100 aircraft took close to two pretty much for them both to be out sleeping with the fishes. Then with more larger fleets even when most of the CAG aircraft would be engaged for other duties than protecting the fleet, the odds for major flak and pursuing fighters to break off the formation are pretty notable, unless the attack involves other fighter aircraft to tie the enemy CAG and flak.
Of course if it's DH team decision to have such gameplay balance it's another story and against non-CVs the impact is far more noticable, but then again let's have moderate sized fleet with some CVs, some BBs and screens and it might be another story to sink them in a nanosecond.
*I must clarify though that it might be more of "recommended" range, even though I recall reading reports that common torpedo that's released too close will usually fail to penetrate\detonate properly. Anyone with bit more solid info?
