The appeal of going down fighting has to be weighed against the consequences of losing Graf Spee. In a last battle she might have damaged or sunk a Royal Navy ship, giving German propagandists something to use. Her own sinking would still have been a serious blow. From a propaganda perspective, Hitler and Nazi Germany at least avoided the loss of Deutschland in the South Atlantic because she had not been sent there.
Notable Point · 1:41-2:50
A fighting end and Nazi propaganda
A last battle might have given Nazi propaganda a success to celebrate, though Graf Spee's sinking would still have been a serious blow.