I've heard that dodging is a plain reduction on enemy accuracy, so 20% dodge and 90% accuracy results in hitting 70% of the time.
If my ships have more than 100% dodge, will it be invincible to enemies without accuracy bonuses? Like 150% dodge, which is easily obtainable by having 6 tiny hull with field disruption modules in my fleet. and the extra 50% will even help against enemies with some bonus.
If it works so, then we can build a fleet like this: 8 aforementioned tiny ship + 1 medium dps ship with no defense at all. The tiny ships will give 200% evasion which is probably enough. This fleet will cost about 1k points to build and will defeat most end game fleets without being hit even once. (you still need to have enough firepower to make up for the tactical repair though)