So many 'business' people think that long waffling sentences seem clever and impressive. Nothing is further from the truth.
This is longer, but it actually means something. Instead of saying that he needs more data in order to make a decision, he's said that he needs more time to make a decision. The data comes natrually.
A "data-gathering-phase" is the phase that everyone is always in about everything. I am currently in a "data-gathering-phase" with respect to whether or not I should make another cup of coffee. My current cup is cold, but still contains liquid. So it's not a sure thing that I should make myself another cup of coffee. On the other hand, hot coffee is nice. I can't decide, so I will continue to gather temperature and flavor data until I make a decision or I spill my coffee.
See how meaningless that is?
This has gone viral!
In the end, I can somehow understand, and don't find it 'wrong' or 'meaningless' per se.
This would also not preclude, "you know, I was wrong... still interested in some cash?" It's a business transaction, not dating.
Furthermore when you come off as rude the first time, you discourage them from asking the second time. What if they come back with an idea that is good, and a team that rocks? Don't close doors that you don't need to close.
The format seems more IM-over-email than "email where important shit goes down."