OK if the Navy is only "blue water" - what are they supposed to be doing out there? Does the survival of the nation depend on them? Hard to say. I don't expect China will defend our commerce - but is that the survival of the nation?
As for bases overseas, I guess I have to look at history. Did the survival of our nation absolutely depend on securing Europe and Japan after WWII? Maybe not except any logical person would have assumed the Soviets would have just taken the entire continent. A threat to us? Maybe not but I'm not sure I'd want to find out. I think each one of the "limited" or "peace-keeping" missions has to be evaluated independently. I'm just not ready to say NO to any of them or Yes to all of them. Too many grays.
I think that's a reasonable framework. My thing is let's make sure this is a vital interest and it's absolutely worth our time and treasure to ask our servicemen to stretch their necks for it.
How do think that would have worked out for them?