This strikes me as being very short sighted. Sure, modern military strategy is (wrongly) based on supporting a specific budget (mo' money fo' mo' ships) rather than a militarily strategic goal (how to beat China in WWIII) but the lack of geographic and historic understanding here is tragic. In WWII P.T. boats failed to be particularly effective in their primary mission, but were quite effective in their use in reconnaissance, search and rescue, and best of all harassing enemy supply lines. The Japanese hated them because they pulled significant combat power away from the primary strike fleets. On the other side of the world German "E-Boats" were credited with sinking over 100 merchant ships, 12 destroyers, 11 minesweepers, 8 landing ships, a submarine and a host of smaller craft.
As
@Hair Warrior noted, the primary fighting ground in a near peer war with China is almost perfect for small boat action and the PLAN has, I think, nearly 200 small attack craft. But...all that said...WWII PT boats were considered a stop gap measure while the blue water fleet was built to full strength even though the navy didn't let them go once the big fleet was ready. They were, in fact, too valuable. It seesm to me that the better route would be to slap a few launchers on it.