That was less the actual concept and much more the error of the Admirals command the fleets at sea. Big as a battleship, guns as big as a battleship, has "Battle" in the name = BATTLESHIP, well at least until they get hit by a battleship size round when they become "lost with all hands".You could argue that none of the I class Battlecruisers should have been built. Battleship guns should not be on ships with cruiser armour.
The USN made an opposite mistake, but one that has similar tragic results, with the Juneau class AA cruisers. They named them Light Cruiser, Anti-Aircraft instead of something more in keeping with their design, even destroyer leader anti-aircraft would have been a better designation. Instead they started with CL, so they were used in a similar way to light cruisers. Bad idea. A truely descriptive name would have been Big Destroyer with a shit-ton of ammunition, surface combat contra-indicated since there effectively overstuffed 5"/38 magazines with engines.