This team is pretty much in No Man's Land, so not doing anything does make some sense. Do you buy or sell? Again, No Man's Land.
Now, that said, they lead a division. It may be putrid, but they do actually lead a division. Does it make sense to go nuts and make all sorts of deals when they've got so many holes? Not really, but they could have filled a couple of them. The end result would still be the same, an early playoff exit.
Lastly, I'm pretty tired of this organization treading water. They've essentially done that since the end of the Dome era. They've never really bottomed out, yet not really peaking either. Total System Failure wasn't a complete tear down, there was a young core coming up. 2019 was as close to a peak as we've seen in that timeframe. The rest of that time has been largely maintaining the status quo, or treading water. And nary a playoff game win, let alone a series, to show for it.
So, for this team, not doing anything at the trading deadline makes a lot of sense. Largely because that's what they do. Tread water.