It's not when you consider he's an almost totally unremarkable player. Not saying he's bad or anything because he is good but good players are ten a penny. He's a good athlete who carries the ball incredibly well. Outside of that he's pretty limited.
The reason why we're going for him as our 4th (? 5th? 6th?) choice option is almost certainly because we thought he was attainable. Paqueta is under investigation, Rice got sold for well above his value, Bellingham chose Madrid, Eze isn't leaving Palace for anything less than £70/80m and so on.
I get your point about how we've conducted our business but it's been the same year after year. We offer what we think a player's worth and if there's no realistic compromise then we move on.
What it looks like to me is that the club know we need an extra body but we're not willing to pay the current prices for players whose individual qualities don't justify the fee.
There are no top quality options on the market and the mid tier ones are getting top tier price tags put on them. That's the reality of the situation.