The fleet-in-being would have been more logical. Germany was never able to develop a naval strategy that worked in either WW I or WW II. Trying to meet the Royal Navy at sea with surface fleets was a fool's errand. The U boat was more effective in the first war than in the second. However, in neither was it in any way decisive. Germany repeated failed naval strategies and had the same results.So you are arguing that the Bismarck should never have been built. I might agree with you, but I don't think that is the question asked. I interpreted the question as "Given that the Germans had a battleship in May 1941, should they have used it as they did?" The only alternative was to use it as a fleet in being.