The extra benefit of the 1897 review, as I note, is that it's when the spectacular debut took place of the Turbinia and hence put the RN on the path to steam turbines.
Probably best to be wary of that kind of anecdote: it's rarely mentioned that the 1896 trial of the re-engined Turbinia is attended by Sir William Henry White (Director of Naval Construction 1885-1902) and Engineer Vice-Admiral Sir Albert John Durston (Engineer in Chief 1889-1907). In reality, the turbine has been on the Royal Navy's radar for some time.
If a freak meteor slams into the ocean and smashes the navy I think that's the least of British problems...
I think this is one of the cases where- leaving aside the potential effects of the death of the Prince of Wales and the Duke of York, the First Lord of the Admiralty, the Colonial Secretary and colonial premiers, the House of Lords, the House of Commons, and the destruction of a major city- it's awkward even to try to say what the results might be in the naval sphere. Presumably, there's a crash-building programme of
Formidables to try and restore something approaching parity, and immediate steps to forge diplomatic alliances to compensate for the weakness. There's going to be higher taxes, which may butterfly away the Boer War and the Liberal social reforms.
If the upper echelons of the navy hierarchy buy it, though, it's anybody's guess who'd end up getting put in their place. There wouldn't be a complete void of talent: Fisher is still alive, as is Percy Scott. Certainly, there'll be pressure to innovate in order to re-establish the quality gap, and more room for radicalism in the development of things like carriers. The problem is whether budgetary constraints will mean anything other than the development of battleships goes out of the window.