I do not believe the Cloaking Device is all that great of an advantage, even though it has been stated to be many times. The reason is simple: when you cannot directly deal with your enemy's ships, you attack his bases. Without bases from which to rearm and resupply, the advantage of a cloaking ship is nullified. (This is what happened to the German U-boat fleet, which was operational and launching new vessels right to the end of the war.)
On the other hand, it allows your fleet to pick and choose its battles if the enemy doesn't force you to fight them to keep them away from your bases. (This is why the German U-boats were so successful early in the war.)
Given that almost all of the Federation ships are long-range vessels built to sustain their crews for five years or more, there is nothing to stop them from doing end-runs around Klingon defenses and striking deep into Klingon territory even without cloaks. On the other hand, Klingon ships are cramped, crowded, and built for much shorter missions.
If the Federation dispersed its ships into raider groups and these groups coordinated in the field to mass for large-scale attacks while dispersing when encountering enemy concentrations, the cloak would be useless as an offensive weapon because the bases which enabled the cloaked ships to operate in enemy territory would be under constant threat of destruction. The cloaked ships would have to be using active sensors to search for the Federation ships, which would nullify the cloaking device.
The only way the cloak remains a powerful offensive weapon is if the enemy ignores it, does nothing to prepare for it, and does nothing to stop it once it's fielded. (Great Britain, and later the United States did this in regard to the U-boat early in WW2, but once they got their act together the U-boat threat was vastly reduced.)
TLDR: Cloaking device is a tactical, not a strategic, advantage, and one which is easily nullified by aggressive action.
Obviously my thesis conflicts with the story the writers of Discovery presented. In my defense, I will assert, those guys are morons who couldn't win a game of Magic: The Gathering with a stacked deck.
Now, your opinion may differ, and I would like to hear exactly how.