Bismarck will probably get to Brest. Then it will be bombed, a little at a time, until the British get one of those wacky ideas that properly writes him off as a TCL, just like Tirpitz - miniature subs, or ramming the drydock with an explosive-packed four-stacker, or have a bouncing bomb bounced into the dock or...
The KM might not spend so much effort on GZ and Seydlitz though, without so compelling an object lesson.
Indomitable's Fulmars found the Kota Bharu invasion convoy - if Force Z doesn't have an attached carrier, then it might not meet Ozawa and so survive at least until Java Sea. With RN capital ships still in-theatre, then maybe Malaya can hold? Yamashita was so short on supplies, that even a single additional convoy of the same order of magnitude of the Club Runs and Operation PEDESTAL would let Singapore survive until the monsoon, if the RN is enough to escort them in.
I think Parshall & Tully's Lion, Eagle, and Rising Sun that suggests that Kimmel only really considered base air defence after Bismarck was sunk, and then pressured Clark to look at his radar and ground control procedures with the Hawaiian Air Force staff who had been liaisons in the BoB - prior to that he agreed with Clark that the major threat to Pearl was sabotage. Just imagine if Yamamoto's gamble had caught the Pacific Fleet at peacetime stations instead of all those drills for a Taranto-style raid?