Battleships were supplanted, not simply beaten

Were battleships defeated by aircraft at Pearl Harbor or Force Z?

The argument is that aircraft and carriers made battleships less worth funding, even though battleships could still be useful in narrower roles.

Aircraft did not simply 'defeat' the battleship in a single tactical verdict. Battleships remained useful enough to be reactivated later, but they lost the capital-ship competition for money and priority. Treasuries would not fund battleships and carriers at the same level. Carriers became the more useful choice for the resources available.