I've seen that argument made several times. EV's are great on land, boats have several options, but for mid to long range air travel biofules have a lot going for them. Unfortunately they need a lot of land.
The underlying numbers seem reasonable with US airlines use ~10 billion gallons of fuel per year while the US produces ~15 billion gallons of ethanol being freed up by the rise in EV's.
Globally things aren't as rosy, but freeing even 1/5 of the land devoted to grazing, alfalfa, and feed corn would go a long way. Reducing US beef consumption would have positive health impacts. So from a policy standpoint shifting the specific subsides seems like a good idea.
Even if we can't get net zero the more we can cut quickly the longer we have to finish the job.