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Liverpool did get a DM, it just didn’t end up being a high-profile one, but they went all out for Caicedo and should have got him. With Rice they would’ve known he was Arsenal bound, and not many other options out there worth splurging on.
Havertz was very much an “on paper” or “in theory” signing. He has a lot of desirable features, and on form (which we haven’t really seen since the Bundesliga) he would be the perfect left 8 in our system to complete the midfield/attack.
Of course, actually watching him with your eyes, he hasn’t been that player in over 3 years. So it was always going to be a risk, hence why Bayern or Madrid were interested but only for about half-price or on a loan.