From my understanding squadrons of dive bombers were not able to accurately call in artillery barrages on ships ether. The appeal to real life is extremely weak as it does not relate to this game in the slightest.
I think it's pretty clear right now that planes are too durable. Getting off 3 strikes on a Montana pretty much confirms that. Attacking a ship with a high AA rating should mean half your plane die on the first strike - there is literally no debating this. You say high risk high reward. What you are talking about is the life of a carrier pilot. The spotting mechanic is probably the most troublesome though. CV's should not be spotting for accurate fire. They should merely be giving positional intel.