BTW you're relatively new (i think) so welcome to the forums!
It depends, I'm here from around when the first beta (EDIT: wait this still alpha right?) was released, which I bought after the WTF of TB.
I0ve seen this game flourishing, and I've actively played every release until the there were nothing more to do.
Fighters are useful, I've not said they are not. They are simply less useful than anything else you can buy\deploy with the same money\ordinance points. You can still use them tactically in some situations, but then 2 onslaughts or 2 paragons are always better then 4 xyphos, a lot better, so much better it hurts.
They are balanced, their power is ok, it is their supply cost to being not balanced. Therefore something is missing, the benefit from fielding them instead of anything else is missing, the "thing" that let you actively use them for what they are: the first line combatant of any space battle.
In the lore, fighters are the bane to the old epoch ships, the revolution of the modern warfare. But old epoch ships are actually pretty much a pain for many wings, and the onslaught has the best anti fighter outfit possible. Supply per supply they are inferior to anything.
Lets be honest, fighters are expected to die a lot in any confrontation. They are like cannon fodder, distractions, scarcely pursuers and finishers. Even in overwhelming victories, the random missile barrage of a buffalo could kill your unsuspecting XXXX wing.
Truth be told, lowering the supply cap could let you deploy too many wings, and simply win the battle by overwhelming any target in few seconds. That would ruin the game.
In the end all comes to some twisting feature to be given to fighters\carriers which allow them to be a viable option, and actually pay for themself.