Whilst the Bazan 220 is a nice looking design, it does highlight to me some of the flaws in the smaller carrier concept, at least for the larger naval powers. It would be fine for a navy that doesn't actually foresee much of a modern threat, or is confined to reasonably local waters under friendly air cover, or will be operating as part of a larger, more powerful group, but on it's own it is very limited, possibly dangerously so. For the Royal Navy or the Marine Nationale at this time, both still with a global remit and still expected to face off against the Soviets, it's fine if it is just intended to provide an ASW deck to work alongside a Nimitz, but on it's own it falls into the old adage of Too Much to Lose, Too Little to Win. There is the temptation to think it can do the things a full sized carrier can.
Firstly, You will need some form of self defence on the ship itself and not just rely on the escorting vessels. The carrier is always going to be a major target in a shooting war and needs these systems (and personally I think that the new HMS Queen Elizabeth may be a bit light in that respect, given the lack of escort decks that we also have). Whether that defence is CIWS or SAM based, even on this smaller deck at a bare minimum 2 mounts (realistically 3) are needed to cover the arcs and provide at least one functional at any time. They in turn need spares and munitions stores. Regardless of whether it is fitted to a 100,000 ton vessel or a 25,0000 ton one, these systems will mass the same. Two CIWS and supporting infrastructure may amount to only 1% of the displacement of a super carrier, but the same 2 mounts are 4 or 5% of a smaller deck that is already tight for space. This just eats into the volume and displacement available for anything else. The same applies to every other component on the ship.
Secondly, that airwing shown may just be representative, but it is the sort of thing a navy would likely consider when buying this design; a little of everything but not enough of anything. It is clearly geared to ASW work. Six Hornets is painfully few if you need to maintain a CAP for any length of time, especially near an enemy coast and without AEW, and 6 strike aircraft, regardless of how powerful the Super Etendard/Exocet combination appeared at the time, is not much if you are going up against an enemy that is larger, or more dispersed, or more powerfully equipped, or dug in on land. Eight Trackers and 6 Sea King is fine if the role is primarily ASW but too big a chunk of the airwing for a flexible carrier approach. Even if you could build 3 of these vessels, you would still need to have 2 available to work together at a moments notice, which is not a given and assumes the enemy gives you the time to gather, something a war with Russia for example wouldn't necessarily provide in the early stages. That ship and its airwing are fragile. Better to go with 12-16 Hornets that can fulfil both CAP and Strike roles, drop the Super Etendards entirely and reduce the Trackers slightly.
That brings me to the third point, the logistics side of carrier operations. Any size of hull has a finite amount of space and at some point will need underway replenishment (something few navies can actually do) or a visit to a friendly port. The more that can be carried aboard increases time between these resupply tasks and increases the number of missions its aircraft can undertake. Ignoring the Pucara (?) and the Sea Kings, that airwing has 3 very different types of aircraft to be maintained. Any guesses how many components are common across the three? Short of a major redesign and expensive rebuild of whichever types of aircraft are selected, commonality is going to be minimal. That small hull is having to hold spares for 3 different engine types, 3 different fuel delivery systems, 3 different avionics systems, probably even 3 different tyres for the nose wheels! Plus it has to hold the same for the Sea Kings. Every single item held in stock takes up precious space. Cutting out the Super Etendards and reducing the Trackers allows you to hold more spares for the remaining 2 types. This improves the serviceability of those, making it more likely that enough are available when you need them. Instead of 100 tons of spares for each of 3 types, you now for example need only hold 100 tons of Tracker spares for the reduced number of airframes and 150 tons of Hornet spares; you've just increased probable availability of those 2 types and have also 'gained' 50 tons for another weapons mount on the ship, or more munitions to increase the amount of strikes you can conduct before needing the fleet train, or more aircrew to increase the number of sorties before pilot fatigue sets in. For me that's no small consideration when switching from a Tomcat/Hornet mix to an all Hornet force on the Nimitz class. Yes you lose a little in the brute force of a Tomcat interceptor, but you gain a larger potential air defence group that can multi-task and is easier to maintain with limited space and spares. Additionally on this smaller deck your hanger crews now only need to concentrate on 2 different aircraft, not 3.