Britain would have two air services then; one ran by the army and the other by the navy. I suppose it has two air services anyway, with carriers and all, but that part about the ground-based aircraft being under army control stands.
The formation of the RAF meant the establishment of the Air Ministry. That's one point against. The dissolution of the RNAS, another point against. The same rectal chasms fomented doctrine, so no change there. The uniforms were still itchy wolly, but blue. The RAF was formed as a force to blow countries to bits, Orwell-style, but Americans achieved the same goal with an army air force.
With some damn politician not telling the Royal Navy what and what not to do for aircraft the people who actually run the ships can buy the aircraft that best suit them.