It's entirely possible to build a world-class navy as the USSR in hoi3.
There are various arguments *for* making such a navy:
1. The USSR has more coastline than any other country in the world (this is probably not true in hoi3 because of the absence of the arctic ocean).
2. One of your main antagonists is Japan, an Island, who has a world-class navy.
3. If you play a cold-war scenario you *must* have some kind of a navy - if you want to win.
However, practically, in the game, the USSR's navy is *roughly* historical - with a few exceptions.
The Frunze Gagnut class BB (which was destroyed by fire during the civil war) was periodically worked on throughout the 30's and early 40's.
The Kirov cruiser was under construction prior to 1936.
For the game itself, the AI rarely builds anything beyond DDs and SS (with a few CAs) because they're cheap - and the AI already struggles with fighting Germany.