Sadly true.
This season isn't likely to result in a fantastic finish of a trophy win or top 4 spot, so can see the logic in not wanting to go and spend overinflated fees in January - particularly when it's often harder to get first choice targets midway through the season.
We're good enough to finish around the middle of the league and possibly secure a Europa League spot (either through league or a cup) with what we've got*, so can see why we wouldn't go and spend another £10-20m on someone who might not make that much difference in the grand scheme of things.
That signing could make the difference between qualifying for EL and not though so would've been good to have someone in, but maybe shows the value of that to the club.