Germany's capital-ship limits after World War I

Could the German navy have fielded any dramatic capital ships immediately after World War I?

No; treaty rules restricted Germany to older pre-dreadnought capital ships.

Postwar Germany was not permitted to build the modern capital ships imagined by the question. Its treaty allowance centered on older pre-dreadnoughts. Interwar German naval planning therefore began inside externally imposed force-structure limits rather than from a free choice of battleships and battlecruisers. Later German rearmament broke with that settlement rather than continuing an unrestricted program.