An American defeat at Midway could mean the loss of one, two, or all three carriers, with very different consequences. Nimitz's orders allowed withdrawal if the risk became too great. Even a Japanese carrier victory would leave the invasion force short of troops and fuel to sustain naval gunfire support. The landing troops are also described as lacking meaningful antitank weapons against tanks on the islands. Wooden landing craft and disembarking troops would be vulnerable to defensive fire, so taking the island cannot simply be assumed from success at sea.
Notable Point · 39:23-40:39
A carrier victory would not solve Japan's Midway invasion problems
Losing the carrier battle and losing Midway are separate possibilities because Japanese landing forces still faced troop, fuel, and antitank constraints.