I think Zidane knew Isco has to play, so Bale is basically now the backup for Benzema and Cristiano (especially since they kept Vasquez as an orthodox winger), and that's not even taking into account Asensio who looks nailed on to be great.
If Madrid were concerned, I don't think the 70M or whatever they got for Morata would have been rejected, but instead the 8M from Lyon for Mariano Diaz, who has 3 goals in 4 starts for them and could probably have been counted on to play spot minutes.
And Madrid have so few holes in the team that they probably figure when the time comes to replace Benzema they can easily spend huge on a Galactico there, though Mbappe seemed like the obvious choice. They'll just buy one of Werner, Kane, Jesus, Dolberg or something.