As it says, what if the 1922 WNT had had the loophole as OTL, but for 15,000 ton carriers, instead of 10,000 carriers?
I don't have the numbers handy, but how many carriers would have 'not counted' had this been the rule? On a side note, what displacement was referenced in the treaties, normal, standard, or full load?
Now, what if the subsequent treaties had not closed this, what would we possibly have seen carrier fleet wise in the 1920-1940 time frame?