I don't see it changing things greatly. The US could have made up for the lack of naval air power (carriers) through greater use of land air power until new carriers became available. For the Japanese the same basic problem remains regardless of whether the US has carriers or not; the shortage of pilots and aircraft for replacement.
While using land based air power would have had some limitations over the availability of carrier based, it would still be possible for the Allies to carry out most of their offensives that originally occured through the end of 1942 when new construction begins to arrive in service. Guadalcanal and New Guenia were both carried out primarily, if not entirely, using land air power and just surface naval assets. Midway could have successfully resisted simply by substitution of land air power for that of the carriers. Destruction of the Japanese air wings would have been nearly, if not just as, devastating as the loss of their carriers.

__________________
Truth is stranger than bullshit!