Exactly. As was raised but largely ignored before, the Baltic is nearly freshwater, less dense than oceanic water, so while Bismarck may have been immersed as if she were at operational displacementI assume because of the density of the water.
she may well have actually been much lighter. The Baltic density is only 1.0086. When she operated in a more supportive fluid she would have floated higher but may have carried more load. I expect one might argue that the wetted area is the same whether one is light but in less dense water or carrying more load but in more dense water. Naval architects will know.47,900 m3 = 49,100 mt in seawater (1.025 relative density).
Several experienced marinators have pointed out that performance on trials is a poor indication of service performance. Bursts of speed over a measured mile in the flat calm Baltic are nothing like operating in an Atlantic seaway.
If the photographs at the beginning of the thread are in freshwater, the amount of exposed boot-topping is puzzling when the draft is 9.25m.
All the best