Yeah, this is actually quite serious. When I first started playing - I would run around with a tag and an LRM 5 pretending to be a 25 ton elemental
Oddly enough - I stopped using this loadout because they
made LRMs better...
You see - each tweak to the LRMs has been to make them more similar to other weapons, and has involved an AMS improvement as well. This was aimed at dealing with big missile boats (Catapults and Stalkers). However, it had the side effect of making anything which uses an LRM5 useless because the improved AMS will take out all the missiles.
To properly balance things for different weight classes they should make AMS more effective against large groups of missiles, but less effective against small groups. In other words, a couple of missiles from a single LRM5 should stand a chance of getting through, but more than half of the missiles from 2xLRM20 should be taken out.
The increased LRM speed does make this light missile boat almost viable though - so it is worth trying while it *might work*.
P.S.
It is sad how PGI's attempt to fix missile boats has made any other use of missiles than boating (in a medium or larger missile boat) unviable...