There is a broken or missing file that tells the game what texture to use for a certain part of the cockpit. Since the game is really picky about this sort of thing, it won't render a cockpit unless it has every texture, and won't allow you to control the plane unless there is a working cockpit. Since there is no cockpit position to put the camera in, and there is no plane being controlled by the player to affix the camera to, there is nowhere to put the camera, so the game puts the camera in some sort of default position. This leaves you with the ocean scene and no plane.
Unfortunately, there is no way to solve this problem other than to fix this file "Pit1.mat" as shown in your logfile.
To fix it, a viable tactic would be to find a replacement file. Try this:
Download
Vega's version of Rawners's F-16 (since you are running BAT, you can ignore all the mods it needs to run because BAT already has them) and find the file 3do/Cockpit/F16ViperII/Pit1.mat. Then, create a folder in your #JTW3 folder.
In this new folder in #JTW3, create the directory 3do/Cockpit/F16ViperII/ and put the file Pit1.mat in there. If you've done everything right, there is a chance that the replacement file could solve your problem.
Good luck!
