That looks pretty good in theory, though obviously it would be pretty easy to pick apart. At least they're trying to group a force up and bring some escorts.
The very high ratio of movement to visibility that naval units have has long been a problem in Civ and AI ineptitude at protecting their fleets seems to just be the manifestation this time around. Really though, I think the problem is just that it takes so many ships to defend a modest transport fleet against a somewhat competent attack. Human players probably aren't doing a much better job, the AI is just so much worse at exploiting the weaknesses in our convoys so we don't notice. I would be surprised if MP CiV games saw very many attempts at moving large transport fleets across the map relying on a local escort, they're almost indefensible.
It's interesting to contrast it with civ4 where the same fundamental characteristic (fast ships with low visibility) created almost the complete opposite effect because of unit stacking, no ZoC and the ability of a healthy transport to defeat a damaged warship. In that game it was hardly ever worth maintaining a sea dominance type navy since controlling the seas in a meaningful way was nearly impossible. Since you could only see them coming a couple turns away from landing and you had to have your ships spread around to see even that much you would at best only be able to bring a few warships to bear on their invasion for a couple turns. Go 50/50 with a few escorts and you might easily fail to stop a single transport from reaching the shore even with a good net of warships watching your coast.
I'd be pretty happy just to see them stop embarking units randomly when I have warships nearby. I think dramatically increasing the oversea visibility of later game naval units would be a necessary first step to fixing the problems with convoys though.