A 32-knot Dreadnought would erase the battlecruiser niche

What happens if the original all-big-gun Dreadnought can make 32 knots instead of 21?

The battlecruiser largely disappears because the battleship is already fast, while cruisers and every rival capital-ship program must accelerate sharply.

The scenario assumes an early propulsion breakthrough sufficient to make Dreadnought a 32-knot ship. That would leave contemporary 18.5-knot South Carolinas far behind despite their all-big-gun armament. Applying a traditional cruiser speed margin of roughly 25 percent points toward an ambitious 40-knot cruiser requirement. A separate battlecruiser might instead seek 36 knots, but the additional machinery would buy only a modest relative advantage. The illustrative cost comparison asks whether one such ship is worth giving up two 32-knot battleships. The resulting argument against a separate battlecruiser depends on the hypothetical technology and cost assumptions.