I think this strategy has a lot to recommend it. Playing as Japan, my first turn objectives are as follows (roughly in this order):
1. Destroy the fleet at Pearl Harbor.
2. Take India.
3. Destroy the Indian Ocean fleet.
4. Take China.
5. Take Alaska.
If the main British fleet links up with the small Australian fleet and adds a fighter, it’s going to take a huge force commitment to destroy. Tough to pull off both #1 and #3 in this scenario.