In other words it's been adequate in reality but inadequate in fantasy scenarios.
If you are really into weapon history, the Phoenix missile was originally meant for an airforce super interceptor, think an armed version of the SR-71. It was meant to shoot down Valkyrie-class supersonic bombers carrying nuclear weapons. That scenario never developed, but the navy took the missile for blue water battles defending carriers. Arguably, the f-14 was only so big and powerful because it needed to haul a radar capable of servicing the missile. Phoenix was never useful in mixed environments where friendlies might be in range because that wasn't part of the original intention. It was meant for killing big/fast things approaching in open sky, not picking out Migs over Syria.
"They performed well, but their primary role was to intimidate the Iraqi Air Force and avoid heavy engagement to protect the fleet's numbers. Their presence was often enough to drive away opposing Iraqi fighters. The precision and effectiveness of the Tomcat's AWG-9 weapons system and AIM-54A Phoenix long-range air-to-air missiles enabled the F-14 to maintain air superiority"
... and nuclear missiles. Which have rendered symmetrical overt warfare with peer opponents obsolete. From now on it's all either covert, assymetrical or deniable (fighting without insignia) warfare.
Rather than an opponent spend hundreds of billions of dollars on aircraft, it's much cheaper to spend it on Facebook attack ads to get America to destroy itself.
The US has never really faced a peer that was both economically and militarily its equal. The USSR never was. China might end up that way.
Israel has had nuclear weapons since the mid 1960's, yet still fought two existential wars. Nuclear weapons aren't a panacea; if your opponent thinks you won't use them, then they're worse than useless.