I dont think Germany could have taken Britain, we may have lost a fair bit of the fleet, but those invasion barges wouldnt have been able to take the necessary supplies nor withstand the Royal Navy ships that would have been able to get through the German bombers.
Germany was lucky in the early stages that no one called their bluff, they wern't really prepared for a lengthy war and probably suprised themselves at how easily they took France, Belgium etc, Britain called there bluff and no matter how much bombimg they did, you cant capture a country by bombing it, you have to have troops on the ground.
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