They were fast, cheap and could take out very big ships with their 2 torpedos. Ok they could be sunk easily but so what – they cost a fraction of what one missile costs – so build a bunch and send em out, no? What am I missing?
What you are missing is that radar is far better now (plus other sensors), big ships are faster, they have radar guided missiles, cannons and CWIS (and some have helicopters) that could take out a PT boat with ease.
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