"The aircraft carrier" and "the Clydesdale" are derogatory nicknames given to the car by Larry Shinoda during the early development stages of the 71 car. The car was purposely designed wider, longer and heavier to easily accommodate the then-new 385-series engines(429-460). There were even plans to eventually install a 501 cubic inch "Cobra Jet".
The car featured many GM-inspired design features at the behest of Bunkie Knudsen that made the model and indeed the entire program very unpopular with the long-timers at Ford.
Notice that in no place on the interior or exterior of the car did the stylists include the word "Ford" in any styling or nomenclature badges or decals, other than generic parts used on other car lines.
This was the stylist's subversive attempt to declare that the new Mustang was not a "real" Ford product.
The fact that the car is 6" longer and 600 lbs heavier than the 65 model is repeated all the time the show how much the car had grown.
However, it is only 1" longer and about 100 lbs heavier than a 70, yet not many ever complain about how much bigger and heavier the 69-70 models are than the 65s.
The nicknames stuck, and history now views the 71-73s as too big and heavy, and outdated. They just never achieved the popularity of the earlier cars.
That's ok with me...I usually have the only 71-73 car at a show, and that is just fine with me.