If the Lord Nelson class had defeated Goeben

What might have changed if a Lord Nelson-class battleship had defeated Goeben?

It could have validated older battleships, encouraged transfers to Dominion navies, and complicated how those fleets were counted in postwar naval treaties.

A Lord Nelson-class victory over Goeben could have demonstrated that older capital ships still offered useful protection against battlecruisers and cruisers. Britain might then have transferred older dreadnoughts to Australia, South Africa, India, or other Dominion fleets after the First World War. Once those vessels became national flagships and rewards for wartime service, requiring their disposal would be politically difficult. Separate naval treaty allowances could become an issue if several Dominion fleets refused to surrender their ships. The comparison with an Orion in Canada and new American Colorados questions how convincing it would be to portray the transferred ships as a threat to another major power.