That's kind of what Adrian said...we'd play both sides against the other. If the Libs started gaining the upper hand, blow up some dreadnaughts. If RM started winning, caboom some cruisers...fight with the underdog side, all the while propaganda-ing both sides about a war fought without the populace's wills in mind, but by uncaring governments.
And no, Germany was split by US and USSR as spoils of war when the Allies re-drew europe.