How battlecruisers might have evolved without the First World War

How might Royal Navy battlecruiser development have continued if the First World War had not intervened?

Existing ships would probably be replaced by a new 1920s generation after continued battleship construction, potentially including further Admiral-class-style development.

Without the First World War, the Royal Navy would not necessarily have retained its existing battlecruisers indefinitely. The ships would probably have been superseded by a 1920s generation rather than abruptly withdrawn. Britain might first complete all eight planned R-class battleships and then move to new battleships and battlecruisers, possibly along the path represented by the Admiral class. Replacement timing belongs to an uninterrupted procurement cycle rather than an isolated decision about old hulls.