Not spending is generally a pretty bad policy in an inflationary environment.
If we really have been waiting for particular players to become available that seems like bad news to me. Good players aren't that scarce. There's no reason we shouldn't have 4 or 5 alternatives to any priority target.
I see your point but I disagree, mainly because it is a touch too simplistic. There is no point in the club saddling themselves with players that either are not good enough or the manager doesn't fancy (ooh err). And while in the ideal world we would have a lovely long list of alternatives; that ignores completely factors such as player prices, availability, desire to play for Liverpool and Klopp's/the coaching staff's own opinion on who or what matches the profile required for each position.
The point that seems to get lost on fans a lot of the time, is that - use of stats or not - the rating of players is still much based on opinion and gut feeling. Just because we like Hector or Rodriguez doesn't mean that they are the right fit (Klopp puts a large emphasis on attitude and desire to play for the club, that much is clear from his own thoughts on the subject - we can only ever really guess how each player fits this criteria). What's to say that those players haven't already been sounded out but don't fancy what is very definitely still a project?
Just because we need a LB or DM doesn't mean we should sign one if there is not the correct standard available. Just because our rivals are spending like it's going out of fashion doesn't mean that we should. Just because you argue that not spending is a bad policy, doesn't mean we will spend.
Klopp knows what he wants in terms of players and positions, he also knows he has money - but he's also clever enough to know that playing for him and for Liverpool isn't enough of a draw for some players without Europe. I personally think that he's bought players he believes can push us on to Champions League and contribute once we are there, the next phase of the rebuilding starts when we are more attractive to play for.
Liverpool's recent history is littered with examples of players that turned out to be an utter waste of time and money, I'd sooner we waited for the right player than carry on that cycle.