[Ruy Horta]

As forces the RAF and Luftwaffe were pretty well matched. Although nominally enjoying a small superiority, the Luftwaffe didn't have enough superiority in numbers to achieve a significantly favorable attack ratio.

Fighters vs Fighters is what matters in air superiority. The bombers are of secondary importance (although they always get thrown into the numbers game).

If you add defensive bonus and radar, the RAF might even have had the odds in favor from the start, but saying so will spoil some of the glory.

The Luftwaffe might have had a chance to gain superiority over a small area in the south, more likely parity, but that still leaves the Channel and the RN to deal with. In 1940/41 a very difficult nut to crack.

IMHO the 1940 Luftwaffe was never capable of defeating Britain in a strategic air campaign, although Britain might have lost the will to fight, it could not really have lost air the battle. Even with a loss of air superiority, the faith in the RN and the advantage of an island nation as taught in history (wars against Spain and France), would have strengthened the British will to fight. It doesn't take much to believe in that moral strength, although some may have been shocked enough to have a momentary lapse of said faith (after Dunkirk).

It would have taken a radical built up of the Luftwaffe in 41 & 42 to really start grinding down Britain, including an air campaign over the Atlantic. But then again, Germany would have had to divert resources from their Army and Navy to wage such a campaign.

Economically Germany was already drawing the short straw the minute the first shot was fired (although this time the literal price that Britain had to pay was much higher than in WW1).

IMHO the best chance of the Luftwaffe to speed up the defeat of Britain was in a strategic effort against shipping, together with the strongest card in the German pack the U-Boats.

IMHO (not only limited to Germany) the inferiority complex of Air Forces made them blind to anything but "orthodox" strategic air war. Although the Luftwaffe was never blind to the needs of the Army, it was still trying to do it the airman's way. In the case of Britain being an island, the most efficient solution had an emphasis on naval operations, with the air force in support.