Basically, the Germans hoped to ambush a bunch of British ships, trying to defeat the RN in detail
A handful of British ships got sunk, slightly fewer German ones got sunk...
Germans chickened out of further engagements for the rest of the war
All of the Battleship buildup proved for nought, as they didn't do much in the war, and became mostly outdated by WWII
Hell, the HMS Dreadnought didn't even sink a single ship (during the course of all of it's service...having only sunk one submarine...by ramming)