I get the feeling Madrid thought they were buying a winger - the “Norwegian Messi” - when they first brought him in as a 16yo, but as he’s developed he’s turned into more of a Modric, which has made it much harder for them to find opportunities for him.
Plus you know Madrid - they like their shiny, shiny. I’m sure everyone was buzzing about him when he first arrived with his ‘new Messi’ tag, but now they’ve had to wait another 6 years for him to get his chance all of that excitement and interest has probably gone. I can see them doing the usual Madrid thing in the summer and going big for someone like Aouar, instead of using the perfectly good, unused option they already have.