Would Hood's loss be accepted if Bismarck were mission-killed and Prinz Eugen crippled in the same battle?
Short answerIt would still be devastating, but the exchange would count as a British strategic victory; Prince of Wales and nearby cruisers and destroyers would continue until the disabled Bismarck sank.
NotesThe battle would be remembered as two giants mortally wounding one another rather than as a clean victory. Once Bismarck is unable to escape and Prinz Eugen is crippled, British gunfire and torpedoes can finish the action without the later ocean-wide chase. The answer also stresses how Prince of Wales's historical gun defects helped create the actual disengagement despite damage already inflicted on Bismarck.