In the setting it was designed for, the Federation was pretty much devastated in a war and is in the process of rebuilding itself. Starfleet abandoned all its exploration, scientific, and diplomatic programs and concentrated solely on defense & reconstruction efforts, and the starship designs of the era are a reflection of that. And it is something of a carrier as it has a number of fighter-type craft.You know, I kind of like that.
I'm with King Daniel on this one. It looks like it's designed with something like an aircraft carrier hangar deck on the front? I'm sure there's a reason behind that, but it looks a bit comical...
That Star Trek: Final Frontier concept looks like it would have been interesting, actually.