This is the situation all navies find themselves in. When the Houthis push the USN around with only Iranian supplied drones and missiles, all navies are obsolete. Since the U.S. has by far the largest number of naval assets, the U.S. suffers the greatest loss in this equation.
The difference is that the USN can obliterate the Houthis anytime is chooses. It, Biden’s cabal choose not to do so. Iran could be pacified as well.
Not having the will to fight is functionally the same thing as not having the capability to fight.