1. I would agree completely if the MiG-21 were still its top-tier equipment. The problem is that s of the most recent information I found, they have 200 new J-10 fighters, 76 Sukhoi Su-30, 140 J-11 (Chinese-built Su-27), and 76 Su-27 fighters in addition to the many antiques. Further, they are just about ready to begin production of the JF-17 which may not be the equal of our new equipment but will certainly not be any pushover, and God knows how many of those they will build in addition to continuing to produce local copies of Russkie equipment. After all, these people are building entire new modern cities which remain ghost towns just because they don't have anything better to do with their money--and here lies the problem. Once they get sorted out what they want to do and get ready to do it, they are going to go all in, and paying cash as they go.
2. The technology gap is closing. Conventional wisdom is that our equipment still has an edge over Russian/Chinese technology, but it is close enough that it is far from the old days in which we had first-generation examples of the F-14, -15, -16, and -18 fighters armed with guided missiles against slow old ChiCom fighters armed with machine guns. We also enjoy an advantage in numbers with approx 825 F-15 C/D/E fighters and 1250 F-16s of all models we still employ. The problem is that once China decides to start building in earnest, they have the resources to do it.
Very few of those planes are flyable, unfortunately.
Everyone inflates their readiness level, because that is what they're evaluated on. You run into this all the time. A company may have 15 HMMWVs listed as operational. The first time you go on a training mission, 3 will barely start much less run, and 5 will break down half way through. It's not the fault of the service men either. They're not professional mechanics, which is what it takes to keep any kind of vehicle operating the way it should.
The F-15 fleet is literally falling apart. They are down to reduced hours and G-loads to keep what few they have operational in the air.
The F-16 is not in the same kind of trouble as the 15, but I would say that half of that number is actually combat ready, and the clock is ticking on those airframes as well. You can only bend aluminum so many times until it just gives up the ghost.
The F-18 is doing better, because the USMC is good at tricking congress into getting new reqs by labeling a brand new airplane as an "upgrade."
Our airfleet is failing, and rapidly so. We have aaaaaaaaay more aviators than we have seats, and it's only going to get worse.
The F35 and F22, while technologically far superior to anything anyone else is flying will be insufficient.
Also, more tech just means more of a chance that something will break. It's a statistical fact.
If you have one component that is 90% reliable, then you can plan on a 90% readiness level.
If you require 2 components to make something work and both of those are 90% reliable, then the chance of both of them working at the same time is .9*.9 or 81% reliable. And so on and so forth.
So, then you have to double up on systems to get your reliability back up. Now they cost more, are more difficult to maintain, so you can't field as many.
It's a logistical nightmare, and it won't matter how advanced our planes are if they're sitting on the runway waiting for maintenance.