Some Liverpool fans are now questioning the wisdom of continuing to support the most successful club in English football, such is their disgust at what has transpired.
But there's one person who isn't moping about the realisation Borussia Dortmund midfielder Jude Bellingham won't be moving to Anfield any time soon.
After all, Jurgen Klopp has plentiful experience as Reds manager of having missed out on his initial main target during the transfer window. And it often hasn't worked out particularly badly.
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There's no doubt Bellingham was for a long time Liverpool's chief target this summer. The groundwork had been done, the player was - and surely still is - encouraged by the prospect of working with Klopp and the Reds have a good relationship with Dortmund.
But Liverpool have decided to step away from the pursuit this summer, instead hoping to spread their funds for a greater squad rebuild rather than invest heavily in just one individual.
And while the circumstances are never quite the same, there have been several examples of the Reds having to shift their sights elsewhere after realising their priority was out of reach.
Klopp hadn't been long in the Liverpool hotseat when he first encountered such an issue in the summer of 2016. The Reds boss had wanted to take Germany World Cup winner Mario Gotze - who he had worked with at Dortmund - from Bayern Munich, only for the failure to qualify for the Champions League helping scupper the deal. Liverpool instead turned, as they had many times around that period, to Southampton and snapped up Sadio Mane.
Liverpool also wanted to bolster their midfield by signing either Piotr Zielinski from Udinese or Mahmoud Dahoud from Borussia Moenchengladbach. Neither came off, so the Reds went to Newcastle United and recruited Gini Wijnaldum.
The following year, Klopp was chasing Julian Brandt from Bayer Leverkusen only for the Germany international to choose to stay put and continue his development. The Reds recruitment team suggested Mohamed Salah of Roma as an alternative, and the Liverpool boss was instantly sold on the idea.
In 2018, Nabil Fekir got as far as having his unveiling recorded by club media until his £52millon move from Lyon collapsed over concerns regarding a knee issue. Liverpool chose not to spend big on another attacking midfielder - although £13.75m took Xherdan Shaqiri from Stoke City - and instead used the funds saved to help bankroll their big-money purchase that summer, the £65m capture of Roma goalkeeper Alisson Becker.
And in 2020, Timo Werner ultimately opted not to take on the challenge of forcing his way into the established front three by moving from RB Leipzig, with Liverpool eventually signing Diogo Jota from Wolverhampton Wanderers.
Of course, the most recent example of Liverpool missing out on a target - Aurelien Tchouameni last year instead moving to Real Madrid - set in motion the sequence of events that have led to the Reds stepping away from Bellingham. Clearly, the need for midfield reinforcement last summer was greater than Klopp or the recruitment team fully appreciated.
That, though, doesn't mean they can't now rectify the matter. Liverpool need to show their open-mindedness and flexibility in the transfer market once again.
But squads aren't the only part of a club to evolve. The Reds recruitment team has changed personnel - particularly at the top, where there will soon be a third sporting director inside barely 12 months - but sufficient groundwork means there are plenty of options to Bellingham already being considered. The test for Liverpool is to now match up to their previous achievements in the transfer market.
It was only a few weeks ago Klopp revealed "positive" talks had taken place regarding future signings and that Liverpool would spend money this summer.
The Reds wanted Bellingham but decided early it wasn't the right move in the forthcoming transfer window. Now the recruitment team must prove again they have an alternative approach. The clock is ticking.
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