Before drafting Alexander, Jackson and Savage, as well as paying Amos a ton of money, I might have agreed with some that the Packers needed to go after Fitzpatrick and a first rounder was well worth the risk. Toss in the fact that King appears to possibly (fingers crossed) be healthy and I think investing a first rounder in MF would have been a luxury overspend on the Packers part. One that would probably improve the defense, but could later prevent you from upgrading the Offense, either by using that pick in a trade or selecting an offensive player in Rd 1 in 2020. 2 years ago, had that deal been available, I think many of us would have been wringing our hands together and clamoring for Gute to pull the trigger.
Also, even if Gute was somehow involved in negotiations with Miami, much like the Mack deal, the Packers probably loose out on matching Pittsburgh's offer, since I would guess that most now view the Steelers pick as potentially much more valuable.