That makes the most sense. They got 47 wins in spite of (a) changing coaches, and (b) trading two future hall of famers, and (c) getting jack squat out of Simmons.
They don't have all their own picks due to previous trades, so they don't have any reason to do anything other than add incrementally and wait for a big-time player to come on the market. I don't know if they pursed Beal and/or if he would have wanted to go there, but a Beal/Dame-level player makes much more sense for them than trading their good players for future/younger pieces. (Unlike the Blazers, who were worse last year than the Nets and do have all their upcoming picks of consequence so losing has an upside.)