If the Kreigsmarine had had a different strategic policy the results could have been far different from the actual outcome of the war.
If I may explain my thoughts.. Hitler viewed the Kriegsmarine with at best indifference and at worst hostility. The only section of the Kreigsmarine that Hitler saw as being effective were the U-Boats, after they had proved their worth in the First World War. In my opinion Hitler viewed the surface navy as a propaganda or political tool. The Bismark and Scharnhorst had the ability to project power.
Imagine that instead of propaganda use, all the main battleships were used as weapons.
A massed breakthrough in early 1942 with the Bismark, Tirpitz, Scharnhorst, Prinz Eugen, Admiral Graf Spee, and the Graf Zeppelin screened by destroyers and U-Boats would have played havoc with the Royal Navy particulary if they had stayed close to the French side of the channel as there could have been fighter cover from land and CAP from the Graf Zeppelin.
At this time the Royal Navy had the advantage in numbers, but it should be remembered that the majority of RN battleships and heavy cruisers where coming to the end of their useful lives being between 10 to 20 years old.
The RN was also scattered between the North to South Atlantic, Meditterean, Indian and Pacific Oceans.
If the following conditions had been met, namely bad weather, close ground based air support, u-boat and destroyer screens and harrying raids against British airfields, there would have been a succesful breakout.
I believe that probably 3 to 4 convoys would not have been able to get through to Britain, as even a "fast" convoy only had an average speed of about 15 knots, the German ships had an average speed of about 20 to 22 knots. The merchant ships would have been like fish in a barrel. The lose of 3 convoys would potentially have caused Britains surrender.
I think the 109T would have been capable of handling the majority of air threats of the time (Swordfish, Fairey Fulmars, Blackburn ROCs, Gloster Sea Gladiators, Grumman F4F Wildcats)