Why an older dreadnought could send the wrong deterrent signal

Would older British dreadnoughts be better kept in the Channel or Mediterranean than sent to Dominion fleets?

Those were possible roles, but an inferior dreadnought could send a weak deterrent signal, while overseas dispersal spread the fleet and reduced vulnerability to a surprise attack.

Sending an older 12-inch-gun dreadnought to confront a more powerful battleship could advertise an unfavourable comparison. A cruiser could instead signal confidence that a stronger fleet stood behind it. That argument concerns the appearance of naval strength, alongside the ships' actual fighting power. Dispersing older capital ships around the Empire also offered protection against the feared possibility of a German surprise attack comparable to Copenhagen. The proposed overseas deployments therefore had a purpose beyond replacing ships in the Channel or Mediterranean.