The regular TIE swarm works not just because of Howlrunner, but because Iden gives a huge boost to the squad by effectively requiring you to kill a ship twice. The FOs lack any sort of proper support on their own frame and the support from the Upsilon isn't exactly stellar either. So that leaves you with the ship abilities themselves and these are so all over the place it's hard to know where to begin. Scorch and Longshot are pretty good and Midnight still works pretty well, if not quite as well as she used to, but most of the others are either very situational or outright bad. The huge range of Initiatives doesn't help either.
I don't think this is a bad thing though. I think the First Order have been designed this way, so in this case the faction is working as intended. It might be nice if some of the less useful FOs came down in price a bit so you actually get to see them on the table, but that goes for most factions.