To try to bring this back to bombers while I believe Germany did get its bomber strategy wrong once the war started by trying to make a heavy bomber do medium bomber stuff and building obsolete models long after they should have been displaced by a newer, better model following a better strategy in this regard is only putting lipstick on a pig. Nazi Germany's fundamental 'problem' is that their war aim of total conquest of the Soviet Union, genociding 20-30 million people and enslaving the rest is psychotic on the face of it. There is no negotiated settlement/territorial concession/reparations combination compatible with this war aim and therefore no zig or zag or better bomber production or jet fighter strategy will yield an acceptable result to either side.
Germany in ww2 zigged into Poland with their military, and then zagged into the North and West. Unlike the Imperial Germany, they made peace, and the peace they wanted, in the East and in the West, bar with UK.
As for the bombers, indeed the, nominally, second generation of the German bombers ranged between god-awful and useful. Too much depended on one type of engine (Jumo 222 for the Ju 288, the W24 engines for the He 177), and when these engines flopped or went into host of problems, the respective bombers' designs were in deep problems.
"Second generation" of the German bombers, if it featured the Do 217 being designed as a 4-engined bomber from the get-go, and the Ju 288 as a twin around the most powerful engines (BMW 801; if/when something better arrives - okay) would've probably gave them better bang for buck. The He 111 get phased off. Ju 88 also after a couple of years. If/when the next gen can be made - again, okay.
What will the LW also need is a proper escort fighter - German bombers were rangy even during the BoB, the lack of good escort was a problem.
To revert to the zig-zag - a ww2 that has UK in good shape, Germany is still in war with Soviet Union, and USA is more or less helping the two German adversaroies will still go badly for Germany.