IIRC the invasion of Norway was the Navy's baby. They certainly counted the Norway under Germany a boon.
Yes, you're right.
Brushing up on the history the Navy pushed for Norway invasion and successfully lobbied Hitler to have naval objectives included in the early planning for 1939 Fall Gleb specifically to fight Britain. After the Mechelen incident of 10 Jan 1940, the Navy started thinking on more grandiose lines, however they did not insist on naval objectives in the 'Manstien plan' as their (limited) objectives remained locked in from 1939 Fall Gleb.
A few things stand out to me from this.
Firstly, the Navy has learned their lesson from WW1 that breaking out of their geography was highly important and when war loomed, they were successful at getting naval aims recognised and included in Army/national planning.
Arising from this it is reasonable to structure a pre-war fleet building programme around the assumption that at least to an extent they weren't going to be constrained by peacetime geography, they can build to a more expansive plan.
Thirdly, while the Navy began to think more broadly in 1940 when the plans changed, they didn't aim to secure huge (to the point of unimaginable) naval objectives, the remained fixed on Norway and the Low Countries.
As a result, I think planning purely for a North and Baltic Sea Fleet is short sighted, it is perfectly reasonable for the pre-war Navy to build a fleet able to access the Channel and 'high' North Atlantic. However, it is unreasonable for the interwar navy to build a fleet for the 'central' Atlantic war as the Navy didn't even start thinking along those lines until forced to in 1940, didn't insist on 'central' Atlantic objectives and was surprised that they got the geography they did.
How does Plan Z meet the requirements of a North and Baltic Sea, Channel and 'high' North Atlantic Fleet?