I get where you're coming from, but with PSG, Man City & Real Madrid in the running, it's basically highest bidder wins. Liverpool can't realistically compete with those 3 as they'll literally pay anything. Liverpool won't have their hand forced, and especially so if the revolutionary overhaul is going to happen. I very much doubt the finances are there for transfers for Bellingham plus overhaul.
Maybe around start of the season it did look realistic to sign him, but now there's other interest (not just Man City), I guess it's not as realistic any more.
And now we wait for @Happy Blue's weekly 'he's coming to Man City anyway so what's the fuss about?' comment