Bewildered by the One Substantive Thing We’ve Learned So Far about the Mueller Report

I am struggling to understand how it can be that Robert Mueller’s investigation has apparently led to zero indictments of Americans for criminally conspiring with Russians during the election.

That seems to be the ONE THING that can be inferred from yesterday’s news of the completion of the Mueller investigation, from these elements: 1) there are no new indictments forthcoming from the Mueller investigation, it has been reported, apparently reliably; 2) it was the Mueller investigation that had that issue as a main focus, so we can reasonably assume that those matters did not get handed off to SDNY or anyone else; therefore 3) there will be no such indictments.

How can it be that with so much “smoke” Mueller could find no “fire”?

Just to name one part of that “smoke”: the emails setting up the Trump Tower meeting with the Russians in June, 2016, show clearly that Don Jr., Mike Flynn, and Paul Manafort were attempting to get something “of value” to the campaign from a foreign source, in violation of federal campaign laws (not to mention the additional crime of the “dirt on Hillary” being stolen property)?

I’m bewildered.