The BRD is both a frontline state, aka if the Cold War goes hot fighting will occur on their borders no matter how good or bad things go, that lacks overseas interests
The BRD needs a huge Army to try and hold some of their country intact, which they had, and a big air force to protect and support it, which they had. Navally they only really need subs and missile boats to reduce the possibility of being outflanked by an amphibious thrust, which again they had.
While having blue water ASW to help the US REFORGER convoys get through is something they would like, any money spent on that is basically money spent increasing the probable quantity of day 15 or so reinforcements, that could be spent on ground forces that would be present from day 1, so money spent there is suboptimal
Germany also lacks overseas interests, the French, British and Dutch have colonies they still control and overseas interests that Germany lost in WWI, they have a need for a blue water navy to intervene to protect those interests in situations other than WWIII, Germany has no such interests