owever the airstrike at Pearl Harbor did not yield desirable results and was, from my point of view, a failure. It was a failure in the sense that the carriers were not taken out. It failed in the fact that the Pearl Harbor complex was not incapacitated and it concluded with a certain number of battleships/cruisers and other fleet support vessels damaged or sunk and as a whole, did not disable the U.S. Pacific fleet, but only gave it a setback.
And perhaps even less of a setback than sinking the US fleet at Sea. American vessels at this stage of the war were not nearly as well equipped for AA as they would be later in the war, so while a carrier strike against the seaborne American fleet would have been a bit more costly than the Pearl Harbor strike, the results would be better too, i.e sunk at sea, not at port. And there would have been carriers to go after as well, though they could go after the Japanese carriers as well.
But I think what Japan needed was a close to total destruction of the US Pacific fleet - and if the US fleet sortied to support the US troops in the Phillipines, it opens the door for the combined fleet battle the Japanese wanted since day 1. And I think it would have went well for Japan. Kido Butai and perhaps some support carriers against a 3-4 carrier US fleet. Japan should be able to wipe out the US carriers, then it comes down to a US fleet with little air support against the Japanese surviving carriers, possibly Japanese Land based aircraft as well if this occurs close to the Phillipines. This could perhaps be a latter day Tsushima, and may done have brought America to a negotiated peace, but it would mean a much longer and more difficult war.
Particularly if Japan slows down on it's conquests at this point and pulls a good portion of pilots out and back to the training table