Unlike the army, apart from taking 10-20 years to rebuild the navy, the High Seas Fleet and Royal Navy simply had no reason to fight.
'We won't leave our ports. Don't worry. Just do your naval blockade.'
'Right, you just do appropriate commerce raiding with U-boats.'
Not only is the winner unclear even if they fight, but there's nothing good even if they win. A decisive battle might sink ships and kill sailors by the thousands, but it wouldn't fundamentally alter the strategic situation or break the deadlock in the North Sea.
Even after the massive fleet battle off Jutland in 1916, where both sides claimed victory despite heavy losses, U-boats are still indiscriminately attacking civilian ships and merchant vessels, while Britain has once again effectively locked the High Seas Fleet in port through its superior naval position. The German dreadnoughts sit idle in harbor while submarines wage an increasingly desperate campaign of unrestricted warfare.