Liverpool are going to play a less intense style this season, one based more around controlled possession, and Zubimendi would've really helped them implement that. So it's wonderful to see him reject them. There's no-one in their squad really capable of filling that role to a decent level. It's genuinely bizarre that they didn't start the summer by identifying three or four targets that could fill that role, and just worked their way down their list until they got someone who worked for the style they want to implement. Instead they put all their eggs in the Zubimendi basket and moved on it really, really late. It's pretty woeful planning. I don't know whether Slot is to blame after his "I want to look at the squad before we bring in any new faces" comment earlier in the summer, FSG is to blame by just being incompetent tight wads, or if Hughes has simply been naive and out of his depth. Perhaps a combination of all three?
Luckily for Liverpool, they have a stable and decent squad that will benefit from the less intense playing style, especially aging key players like VVD and Salah. I still expect them to do quite well this season, but if they had shown any savvy in the market they'd have improved their chances no end.
Playing 4-2-3-1, they'll presumably have Szloboszlai and Elliot for the 10 role, leaving them with Endo, Gravenberch, Jones, Mac Allister, and Bajcetic for the two double pivot spots. Mac Allister is a good box to box player that is well suited to the role and high quality, Endo is not of the standard necessary at all, Gravenberch is pretty average but with room for growth, Jones is okay but nothing to write home about, and Bajcetic has enormous potential and could be a star but is coming off a year of injuries. If Bajcetic fulfills his potential then they'll have that position sorted, but none of the other players listed are really good enough to be starting alongside Mac Allister, hence why they've gone after Caicedo, Lavia and Zubimendi. Gravenberch and Jones are good squad players who are now elevated to first choice by failures to act in the market.