The problem with "ghoti" is that, while English spelling is erratic, it does have some underlying principles. "gh" is only pronounced f when it occurs as the last part of "ough" at the end of a word. "ti" is only pronounced "sh" as part of "-tion". And "o" is only pronounced like the "i" in fish in the truely unique and exceptional "women". So "ghoti", while cute, ignores what laws of spelling and pronounciation English does have.