The assessment is that there is little tasking for a modern armed merchant cruiser. A platform supply vessel converted into an offshore patrol vessel is the closest plausible example. Mercantile shipping could still contribute extensively to a large war, especially a prolonged one. Its usefulness would depend on the ability to protect it.
Notable Point · 1:09:53-1:10:30
The modern requirement favors auxiliaries and protected shipping
The case presented favors supply-ship OPVs and protected merchant support for prolonged war, with little role for a general armed merchant cruiser.