<One alternative would have been to build a carrier centered fleet. Let's say Germany starts WW 2 with 4 CV roughly on the size of the Graf Zeppelin but without that ship's major flaws and another 4 large merchant / liner conversions capable of slightly smaller air wings.>

I think, if this were to happen, Britain would have hunted them down as soon or while they were still in port......just like Bismarck. Carriers were in violation of the Treaty[so I would think.]



As long as the Uboats messages were being 'read', I don't see any help here either.