There are many more captains than there are captain billets particularly in the carrier world. FUMO.
As a former member of SAC, I remember Iron A$$'s LeMay's mantra:
" I refuse to accept the difference between the incompetent and the unfortunate for the results are always the same- failure!"
Having served in the Navy during WWII and worked with and for the Navy for over 30 years I would have been surprised if the CO had not been relieved.
Recently a F/A 18 squadron commander who was serving as the RIO on a F/A 18 was relieved because the pilot made a stupid maneuver.
QED