Why Russia modernized Admiral Nakhimov

Is modernizing the Russian battlecruiser Admiral Nakhimov a waste of resources?

Probably for another navy, but Russia has few realistic ways to obtain a comparable prestige and combat asset quickly.

For most navies, rebuilding such an old and complex cruiser would be a poor use of resources. Russia's restricted ability to construct another ship with comparable command, missile, and status value makes the modernization more understandable within its own force structure.