I think one problem with this scenario is that Germany was limited by available slipways, as well as steel production. More ships means less steel for other users like shells, tanks, synthetic fuel plants and whatnot. Sacrifice Bismarck and Tirpitz and use the tonnage for 4 20k ton CV's?
Going with 3 CVs of ~25000 tons + 3 'super twins' might've proved as a bigger threat than the twins + B&T + the never-finished GZ.
Granted, Germans figuring out that main offensive and defensive asset of a CV is it's air group is another kicker - even the big GZ was supposed to be carrying meager airgroup.