first, Taiwan's currently president already say, if there are going to be a war with china, he'd prefer it's fight outside of Taiwan (meaning at sea) so Taiwan's AF will certainly engage China's AF at sea.
second, you are over confident on taiwan's defence with what's on paper, and you look down too much on enemie's ability.(not a good way to plan, useful way is hope for the best and prepare for the worse)
China will not tell you what in their sleeve.
Taiwan can upgrade F5, why can't china upgrade their mig? lost time i check, the mig has no problem finding usa spy plane.
few example on why you shouldn't take paper value too much.
1.stinger on deference, you'll not be using it to shoot down mig. it'll be against bomber jet.
reason: mig are not need with taiwan AF are gone. and bomber jet take over to help the ground force.
why: because bomber jet won't show up when taiwan AF is defending the air, and it's way out of stinger's range.
2.in order for taiwan's missile deference to work, they have to turn on their radar, there is certain type of missile that are shoot out to detect radar signal, and follow it to the source to destroyed it.
I would think taiwan's anti-air defence will be switch on/off on alot.
which take a performance hit.
3.red army is not stupid, they definely now the information you know, and they may have solution that you didn't know.
4.Taiwan's AF definely need to engage china's AF at sea, otherwise taiwan Navy has not air support
the mig can drop tobepo, china's navy ship can first missile, and large number of sub can fire tobepo
too much for Taiwan Navy to handle even with help of taiwan's AF.(they'll be busy)
5. don't mention taiwan's sub killer helicop, because they are useless until China AF are gone, and china's ship cannot fire any missile.
6. it's not what you have, it's how you protect it and use it when you need it.
If they are war between Taiwan and China, the commanding General and the skill of the troops to carry out the order are the main deciding factor.
all other is just blocks, and it can be overcome soon or later.