I wouldn't describe an initial £10m as an alarming punt for a player with Chiesa's ability. He played a lot last season too.
I'd happily argue we don't need him, but that's a different matter.
Personally, I just refuse to believe the clubs hasn't looked at all options re the 6 role. Zubi didn't work out. Maybe they think they can get him later, maybe they think that can get someone else now, or someone else in Jan or next year when a different player is in a different contract situation etc..
All of the people in the "transfer committee" are way more experienced and knowledgeable about this than we are. They will have a plan, and they are clearly sticking to it. We might not like, but that's how it goes.
I want a new 6. I want a Rodri type. Evidence suggests the club want this also, but for whatever reason haven't nailed it yet.
What is also true is that we have Endo, Macca, Grav, Jones and even Trent and Dom that "could" play there at a decent level. Not only that, we play different now so the pressure on the 6 is notnthe same as it has been. Zubi is not a destroyer, he's a playmaker primarily.
This isn't an effort to excuse anyone, more that for me personally it doesn't look like the club sees this position as something we desperately need to sort. They appear to only want a starter if they sign someone, and they haven't found that player yet. They also, seemingly, think they have adequate cover for now.
I really don't think it's anything more complicated than that.