Yes, indeed it could be a multitude of reasons.
I'm not sure it particularly means he didn't desire us but that either the trade couldn't be done or indeed he now just prefers to stay with the Swans (remember his Grandfather played for them).
Doesn't also mean the trade is dead and buried. Papley just may want out of the spotlight during silly season. If for example, the Daniher trade gets done Austin might have another crack at Papley.