Has anyone ever seen one of these things with their eyeballs? Or is it all... electronic sensors? US electronic warfare is top shelf sorcery.
It sounded like Mr. Fravor saw something in his airspace with his own two eyes. I don't know what it was (blimp, foreign aircraft, whatever), though I doubt it was extraterrestrial. (Extraordinary claims require extraordinary evidence)
I couldn't spot anything obviously wrong with Mr. Fravor's story by itself.
On the other hand, if the DoD wanted to nudge their pilots to report things they see, and had a story like David Fravor's to put out there in order to encourage current pilots to report what they see, that would be a propaganda event to encourage, so to speak, at least by declassifying harmless footage and not squashing the story.