This all ignores the fact that the British wanted more cruisers because of their large empire and were the ones pushing for a lower tonnage per ship in order to be able to spread a limited amount of tonnage over more ships.
Yes this is very bad news for the Royal Navies of the British Empire. They will have to build large cruisers to match the Japanese so there will be 15,000 ton Counties and Southamptons plus possibly 12,000 ton Yorks, when they would prefer to be mass producing Leanders and Arethusas.
This might mean less money for destroyers and minor war vessels.