Yeah if it was really 4/80 with an option to bring it up to 5/100, then that would be a foolish thing to offer to someone you didn't want to bring back, even if you felt he would turn it down. I think more likely they knew they'd get outbid but gave him their best offer anyway in case he wanted to sign. When he didn't, they moved on quickly.
Morales, Pearce, Guirrel, and a pick instead of Edwin is fine with me.