100% numerous people in the US military know that they're sitting on extremely expensive ships/aircraft/vehicles that are with modern enough weaponry, easy to destroy. A question of whether they have the power, for enough time required, to fix the bloat

Difficult and expensive to develop, manufacturer, maintain. Trapped in service contracts with completely single source suppliers, no alternatives. If it wasn't so expensive to maintain, even just the ammunition, maybe it wouldn't be such a panic situation but well after pretty much constantly being at war since the countries inception, the US is sitting on an albatross of a military. Not just all the equipment but how much employment is tied to supporting the albatross. Albatross multiplied hard with Iraq and Afghanistan paired with all the tax cuts since Reagan. Without Afghanistan and Iraq, probably wouldn't be so wallet concerned for for a good amount longer