The point isn't necessarily for the squints to survive. The point is to kill enemy bombers and trade up. So, your ships don't die to those bombers while they kill enemy ships.
In a vacuum:
4 TIE Interceptors: 44 points.
4 bwings: 56 points
All squints getting thrown in in one activation: 9.5 damage. Within reason to kill 2 bwings.
2 bwings shoot back and kill an interceptor while taking damage.
You are now up 28-11 and likely to swing it to a final 56-22 or 56-33 trade and your ships pound enemy ships.
Yes, they died. But they bought you that time to get after the ships.
Not when you start adding in Jan Ors or Escorts like YT-1300's
He did specify "in a vacuum", after all.