McCarthy makes an excellent point...

Liz Cheney Is Winning the January 6 Committee

To conclude (as I have) that Trump should have been impeached for trying to deceive the country (and actually deceiving his most rabid supporters) into believing the election was stolen is very different from saying he should be prosecuted. Impeachment is a political remedy that is triggered by a public official’s mendacity — even if it is insufficient to establish criminal fraud — because political office is a public trust, a privilege, not a right. Indictment, to the contrary, is reserved for private wrongs — penal crimes — as to which criminal intent must be proved beyond a reasonable doubt because the penalty is to deprive the accused of liberty, a right, not a privilege.

Now I will quibble with the idea that McCarthy (or anyone for that matter) has the right to make a determination on who deceived who in regards to the 2020 election. The one sided idea that Trump somehow single handedly "tricked" well over a 100 million Americans into believing there was election fraud is a logical problem. But it seems to be a stubborn opinion for many and largely because they declared that argument over a long time ago and have since put their hands over their ears when it comes to that particular subject.

But the point of differentiating between impeachment and indictment is very relevant. The difference between impeachment (that takes away the "privilege" of being President) and a criminal charge (that takes away constitutional "rights") is a huge difference and one that should be considered carefully. McCarty even suggests this:

The Justice Department’s standard for establishing criminal intent should be even higher in a case touching on electoral politics. If the last eight years have taught us anything, it is that we don’t want the FBI and DOJ entangled in elections unless there is crystal-clear evidence of a serious crime. The failure to commit to this bright line is corrupting both our elections and our law-enforcement agencies.

Btw... the concept of McCarthy suggesting that Liz Cheney is winning the hearings has nothing to do with establishing any sort of crime. McCarthy's belief is that while the Democrats on the committee are trying to make Trump relevant, that Cheney is trying to make him "irrelevant" by convincing Republicans that it would be suicide to run him again:

Big picture, there has been no change, no revelation that has altered our understanding of what happened in this country in the two months from Election Night 2020 through January 6, 2021 — from the time the president of the United States made his first bracing allegation that the election had been stolen from him, through the “stop the steal” machinations, leading finally to the Capitol riot. Nevertheless, while we all know the basic story, granular details that boggle the mind and boil the blood have not gotten due attention — particularly from Americans who follow politics only sporadically.

Cheney appears to me to have been banking on this belief: If she could command the attention of the country for a few days in June, and present what happened as it has never been aired before, in a series of tight, well-scripted sessions, she could hammer home Donald Trump’s unfitness for office.

Now again, I believe that McCarthy is misreading this, largely because the very people that Cheney would need to convince are not the people watching these hearings. I doubt very seriously that Trump's approvals with Republicans will go down because of any attacks from Cheney. 

Lastly, McCarthy makes the same point Turley and other adults are making. The committee is not making a criminal case and they are not providing anything "new" for the AG to run with. They are simply rehashing what we already knew,  hoping that some prime time television coverage and media attention would make help their cause. 

Unlike McCarthy (who seems to be assuming some things that have not been shown so far) - I am not convinced that Democrats have done much in terms of capturing the attention of the public and I would bet the mortgage that Cheney is not convincing any rank and file Trump supporters to break their ranks.