You NEED an IC in Egypt for the UK to survive in Africa. At the beginning, your army in North Africa (Alexandria and Egypt) is 3 inf, 2 art, 1 tank, 1 fighter (but this fighter will soon attack the Italian fleet). Even if you assemble this army in Egypt and let the ANZAC inf in Alexandria to block, your army is still inferior to the 4 inf, 2 mech, 1 art 1 tank the Italians can advance in Alexandria. Not a lot, but still, you should be wiped out on I2, even without reinforcement or Ethiopian troops.
So Egypt needs reinforcement. If you can afford 1-2 planes from India, it’s very good (if Japan doesn’t DOW on turn 1, you have time to do it). But Is still think that you need an IC, and you need to build more than just inf in this IC.
Italy is not that weak. As they are the only power situated in the Med, they have a considerable logistic advantage. In the Channel or in the Pacific, 2 cruisers and 1 destroyer are almost sitting ducks. In the Med, they are a powerful fleet.