Had the resources been spent on building thousands of Ju 52 transports, the Sea Lion invasion would have been successful, transporting several divisions to the Sector 11 airfields.
Early 1930s paratrooper are not like 1944 paratrooper,
Special that Germans Paratroopers jump without weapons, those follow in container.
leading to situation that locals found the container first and use weapons to shoot down the Paratroopers...
But the fleet of Ju52 as logistics aircraft makes Sense for Reichswehr.
Those could label as passenger Airliner and Cargo plane as loop hole for treaty of Versailles.
and for Bomber Germans hab build a Airliner, that became Medium Bomber
Heinkel He 111 and
Focke-Wulf Fw 200 Condor
On Navy issue and
Focke-Wulf Fw 200 Condor
instead building Pocket Battleship why not give Kriegsmarine Fw 200 as Anti-shipweapon ?
it was successful during WW2 until Göring step in, because the Navy was using
HIS Airplanes
They could build also bigger Strategic Bomber disguise as Airliner and Cargo plane.
Like BV 142 or Ju 89 and Do 19V
I dont think that the Reichswehr/Wehrmacht would look mutch different in 1938 with or without the Nazis. Yes it would have likely taken a little bit longer, but also Weimar would have to be ready to fight Poland and France because both were extremly hostile towards Germany.
it would very different compare to Third Reich special under Hitler and Luftwaffe under Göring.
Special if you remove Göring out equation you get a very different Luftwaffe...
Also A Wild Card in Luftwaffe is work of hans von Ohain on Jet Engines
on Political side France and Poland would very Hostile against rearm Germany.
Britain will try to be Neutral and maintain peace at all cost (policy of appeasement by Nevile Chamberlain)
However this depends how the conflict between France and Germany evolve
If the Germans try by past French Defences true Belgium, Britain is force by treaty to help the Belgians.
Again if Germany would do this, there other options
get true Luxembourg or with help of Italy attack France south and move north by Rhone valley.