They lost a few that way.
That's the mission. Low and fast. That's not inherently safe. In fact, interdiction may be one of the most dangerous missions, outside of Wild Weasel duty. We've lost Strike Eagles, too.
Maybe the evaluation that should be heard is that of its foes. The North Vietnamese had a justified fear of this aircraft because they simply couldn't stop it. It took out bridges in bad weather in one sortie that previously withstood hundreds of sorties by other aircraft. It could hit them anytime on any day or night with dead-eye precision.
I'd imagine Iraqi tank and armored vehicle crews whould have a few things to say about it, too. If they could.
It gave the Australian AF a strike capability that nobody else possessed anywhere in the Pacific. The F-35 still gives them a lethal strike ability, but with MUCH less bombload and MUCH less range. They loved the aircraft.
I'd love to hear a Vark pilot with combat experience chime in on this. I think we'd hear a very interesting take on this airplane.
Where it failed was as a Navy fighter. Where it excelled was as an interdiction and strike aircraft. It had the ability to sustain speeds that enabled it to run away from just about anything.
Also if I had to eject from an aircraft, I'd take the Vark anyday, as the capsule offered a slightly more comfortable experience with dramatically reduced chance of injury. You could eject at supersonic speed at max altitude. The darn thing floated, too. It gave 10 minutes of emergency oxygen. In other aircraft, 02 is gone when you eject. The only advantage I see to other aircraft's ejection systems is that they are rated for zero altitude/zero speed. The Vark's is zero altitude and 50kts. Big deal. I'd trade that off for the ability to get out at mach speeds and to float. I'd suspect you could stash more survival gear and food in it, too.
It also excelled as an EW/ jamming platform that could accompany a fast moving strike package, again with tremendous range. I'm sure lots of Eagle and Falcon drivers were happy to see an EF-111 come along with the party.
So I'd agree it wasn't a good fighter. But what it excelled at the interdiction/strike role and even the EW role. While hindsight shows it to have been a terrible adaptation as a carrier fighter (or fighter in general), the concept wasn't a complete failure. The F-4 Phantom was a massive success. So it had been done before. But I think the F-111 was just asked to do too much for the available technology of the day. Fortunately it worked out in one of the roles it was assigned.
Btw, many forget that there was a strategic nuclear bomber version that was in service for a good while. What other strike aircraft could even dream of doing that? That's a testament to its range. (I know it had to be refueled. But it still had long enough legs to make it viable with air refueling.) I'd suspect it would have been superior to the B-52 at penetrating Russian air defenses of the day.