Yes, that is the sort of umbrella explanation for why the proof is never actually forthcoming. They've got it, but they can't show it.
Meanwhile, they and others carry on their 'searches' and discussions about what to do if one was actually found, but why bother if they already know it exists?
This is the trouble isn't it. It's always going to be like a 'B' picture with no third act. Because there's nothing there.
You can role play it to just short of a climax.
This is why Waters is going to run out of steam when the last of these five videos has got old.
It does irritate me that trying to make money out of it. Especially when I also get the impression he's so anti debate over on his page.