Current capabilities are equal to the M2K, with the exception of the GBU-12 series, which the M2K can't use on its own properly. And, the F/A-18C can land on carriers, which makes it even more useful then a M2K ;)
My two cents on the topic, I think people will fairly soon realize that being able to do 'a bit of everything' is not going to cut it. Depending on the scenario obviously, you can't just fully complete it with only Hornets. It might be able to kill of some air targets and then do some ground pounding, but it won't have that much of an impact on the overall mission progress.