I'm growing more and more anti-embark...
For one thing, it really nerfs navies to the extent that they become pointless. I'm still using caravels in the modern age to blast embarked AI units because - what's the point in upgrading? I just run and hide in the rare instances where an actual AI naval vessel shows up.
It also makes cross-ocean exploration a lot, lot less fun -- ruins terra maps for me... Building that first caravel was a real achievement in previous iterations - and it added a second exploration phase. You then had to tech up to the appropriate galleon tech, too -- in order to get settlers and such across the ocean.
Now - pop astronomy and send anything and everything everywhere....
As for the "transports were tedious" complaints -- are you seriously saying that its LESS tedious to inch 10 individual units across the ocean - and if you're smart, a few escorts? Eliminating some tedious aspect is all well and good - but I'd hardly call replacing it with an entirely new kind of tedium an improvement.
If you're not going to bring back TPs, fine -- then create a "convoy" unit that allows me to move a complete army in a single click. Require some sort of improvement or something.
I'm not one to generally fault a game for "realism" issues - but there's a point where it gets ridiculous, and for me (and apparently, OP) - this is it.
Might as well just get rid of the concept of oceans entirely and just call it "blue land", with limitations like "cannot build cities here", "produces 1 F/1C", and "double/triple movement cost".