A smaller Italian battle fleet frees Queen Elizabeth-class ships

If Giulio Cesare were the only Italian battleship still available, Renown or an R-class ship could cover the remaining heavy threat. Mediterranean operations would become more centered on cruisers, with a British battleship able to discourage the strongest Italian cruiser groups from engaging. Queen Elizabeth, Valiant, and Warspite would then have less reason to remain at Alexandria, and the historical frogman attack on two of them might never find those targets there. The released ships could reinforce the North Atlantic or move through Suez. The likelier deployment in this scenario is just east of Suez, where they could escort shipping, begin forming a Far Eastern deterrent, and still return quickly if Italian strength recovered. Eagle could accompany them because she could keep up and provide useful air support.