It’s very viable.
Also, the threat of KJF is even MORE viable. As you can see with my game with Switch, I managed to not only destroy 25% of his naval assets without a scratch (Pearl on J1 doesn’t count, you don’t get to do anything to stop it) but I forced him to blow 2 rounds of development to stop an assumed KJF tactic, all without loosing any assets I wouldn’t have lost anyway.
It’s B > E > A > Utiful when a plan comes together!
Meanwhile, the Luftwaffe does not have any say over the Atlantic at all. It’s not shared. It’s denied for anything but pleasure flights over unoccupied waters. :P