Yep, that and his blitzkrieg into France, Belgium and the Netherlands was quickly running out of steam. Buildup for Operation Sea Lion was going to take time and be costly. Enter Goering with a grand plan to bring Britain to its knees while Operation Barbarossa was spinning up.
What Hitler didn’t count on was the Italians screwing up in North Africa and having to do there to try to bail them out. In many ways, Mussolini was the best “Ally” the Allies could have had.