It's a mistake to let an important player, especially if he's your first choice and has high technical value, go to a rival. This reminds me of the deals for Rice, which Arsenal secured, and Van Dijk, which Liverpool secured.
Refusing to continue negotiations on the grounds of a player's late response or financial demands is wrong, especially if the player's technical value is high and if he will influence your style of play and your chances of success. I don't want Liverpool to sign Wirtz. Letting him go to a rival would be a huge mistake on the part of management.