Sure it would. The issue is you are tying up huge amounts of space that is used .01% (ish) of the time. And a carrier would need more than one to allow for damage to occur and still function - at least larger carriers would. Plus if you were using heavier fighters, say in the 50 ton range, the costs would go up even more. Also, the size of the tube limits you to a max size, or else you use 50ton launch tubes for 3o ton fighters, a waste of displacement.
Tubes offer no benefit other than an increase in launch speeds, which are artificially limited by the rules to justify the existence of launch tubes. Even multiple launch hangars would be an improvement, allowing faster launches without incurring the penalty.