Yeah if there was anything the war proved it was that air power > sea power. If they had air superiority they wouldnt need a matching fleet. There are plenty of air bases in range and Stukas have shown themselves capable of taking out capital ships.
After Dunkirk, Churchill was genuinely worried about a german landing with tanks because they had lost most of their anti tank equipment and he put a lot of priority on developing things like sticky bombs that could work as a low-tech anti-tank weapon usable by anyone
I wouldn't say that it was simply that clear cut. Sure air-power can cause a lot of damage and eventually attrition down even a big fleet like the RN Home fleet. But as shown in Dunkirk it would take more time then the Germans can afford to spare.
You can also make the argument that Germany's biggest logistical problem to sustain Seelöwe was lack of landing and transport ships. That situation is not going to improve if the entire RN Home fleets come dashing south and sinks a majority of everything afloat in the channel before retreating back north within half a day after taking losses to air-power. No matter how dangerous airpower is to seapower it can't stop something cold in their track just the way that a Battleship can, especially not the historical 1940 Luftwaffe Stukas if we measure their performance based on Dunkirk.
Just the historical force of destroyers that were used in the evacuation at Dunkirk (around two dozens of whom 9 were lost over the cause of a week), could have caused great havoc to any German landing, and they would not even have to remain stationary like at the battle of Dunkirk where their primary job was picking up survivors.
It is also plausible that Seelöwe might drag USA into the war. In that case you have not only the RN Homefleet to worry about but a dozen more capital ships arriving to reinforce them within say two weeks.
Sure the Germans did not have complete air superiority at Dunkirk, but I still doubt that even with complete air superiority it would be able to make a major dent in the RN Home fleet within the few hours they need to dash south and interdict.
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