No, faulty ESC cannot be protected by a fuse. (Assuming you mean that ESC would survive being functional after the incident. No way.)
Fuse can only blow due to design failure in ESC*, so don't fail your design, OK? Then, fuse will never blow.
*) or serious abuse beyond the ESC ratings; for example, severe input overvoltage
Fuse is still important and used to protect against fire.
One fuse per ESC would be obviously the right choice given such large current.
On the other hand, you might really want to ADDITIONALLY consider one fuse right at the battery output.
Fuse is dimensioned so that it protects the downstream wiring from catching fire.