Yeah...
Maybe on the periscope screen they could make each button (square, triangle, circle, X) fire a different kind of torpedo, and there could be special combos like X-O-O-X does a Mega Strike that hits all the escorts. Time compression could be cranked up to 1,000,000,000X to avoid players having to wait more than two seconds for something to happen. Air attacks could be handled using QTEs (press X to not die). Yeah, I think that could work!