I have never seen this tried. But if confronted with it. I would probably cheer as the Allies with one exception. Let’s focus on the Atlantic side win first:
a) Japan sweeping into Egypt with 2-3 CVs loaded, plus aux ships + 5 transports should be able to devastate Egypt.
For good measure they may try to invade the Far East as well–however, this may not be possible as the US might be interdicting any shipbuilding in Japan since the main fleet is gone.
b) Germany and Italy would be giving Russia more than they can stand, but it just takes time to take them down (6 rounds??)
If the Allies don’t adapt, they would be goners.
But India, and Queensland become fighter factories. Before turn 6 they can send 6+ fighters to Moscow for defense. +2-3 each round after. This will support the Russian war machine enough to remain in the game for a few more rounds. So no takedown of Moscow until G8-9. The Allies should realize on Turn 4 (when you pass up India for Egypt) that something is up, and the US will have 4 solid turns to build in the Atlantic only. They should be able to invade Africa (directly confronting Japanese), Europe, or Norway. The US supply lines are much shorter than the Japanese and regardless after the initial Japanese forces arrive, nothing else of consequence is coming for the Axis. And the consequences of ignoring India, DEI, China, and most likely convoying Japan add up to major economic advantage for the Allies, who can focus on manufacturing units to pour into the Russian and western fronts.
There is one caveat that would destroy all of this. If the Axis had set up for a Moscow crush on G5-6, and the Allies did not plan to send enough fighters to support Russia (either from India, Middle East (middle Earth plan), or via north route) , then not all of the fighters I mention above will arrive in time and Moscow can fall. If that happens, then the Japanese will descend upon Egypt and overwhelm it. Game over.
Regarding the Pacific side victory. Germany and Italy are too far away from India to be able to take it down before 8-9 turns assuming reasonable Allied defense. I’m not sure what that would look like. You have to defend against the Russians. The US will fight for Africa and make any troop transports through the Med to Middle East slow and painful. The alternative of going through the Caucasus takes a long time as well. 8 Turns is probably optimistic. Again, the Allies have time to react and fortress Hawaii is really hard for the Japanese to win in any game.
Perhaps you could try a version of Dark skies where the Germans and Italians shuck bombers to sites in China that the Japanese own. Then use the bombers to can-open, allowing the iJN to roll over enemy fleets. But you have released the Russian horde, and I don’t know that the game is recoverable for the Axis once that happens.
As usual , this tactic requires your opponent to not play optimally.