This was my take on things when we first got some info.

The left, myself included, may have been guilty of overthinking it, but not perhaps exactly what you might be thinking. It's still a fact (to the best of my recollection) that Trump's had extensive business dealings with Russia, that Russia has and still is attempting to influence American attitudes and elections, that members of Trumps campaign staff had shady meetings with Russian agents, and that members of Trumps campaign staff have been found guilty of felony election crimes (Dinesh D'Souza comes to mind).
 
It's possible that prosecutable evidence or testimony of treason simply couldn't be found, or that the very head of the FBI who signed off on the report and who Trump himself appointed may have fudged things a bit. But I think the most likely story is simply that Russian agents met with members of Trumps staff and Trump's staff simply said, "No thanks."
 
Trump's still trying his hardest to suppress the report. It's not like he hasn't been dirty in almost every way possible, but there was simply no reason for him or his campaign to meddle with actual treason. That's where we overthunk this. We see Trump trying to cover all his dirtiness and assume the very worst. But why would they even bother? If Russian agents approached them with the intent of helping Trump, it doesn't take a genius to realize Russia's just trying to get the candidate worse for America elected. What collusion is really needed? To what purpose? Simply say no thanks, and expect the help anyway.

One other thought, Trump could be intentionally crying wolf as a distraction. Let’s say you’ve got skeletons you need to hide. So you hide them, but even better, you also plant false skeletons. You leak like a sieve, oh no, don’t look behind the curtain, don’t look at my tax records, don’t throw me in the briar patch, etc. The time and energy spent by people going AHA! just further riles up your base and makes them less willing to believe your real skeletons, should they get exposed.

'It's possible that prosecutable evidence or testimony of treason simply couldn't be found, or that the very head of the FBI who signed off on the report and who Trump himself appointed may have fudged things a bit. But I think the most likely story is simply that Russian agents met with members of Trumps staff and Trump's staff simply said, "No thanks."'

Oh please....I don't know why we wouldn't trust the Barr report - the rest of the trump administration has been so honest and forthright thus far.

Basically Dems and moderates are briefly depressed while the fanatics are jumping around doing the "YEEEEE-HAAAA!!!!!" dance. Meanwhile, they may be able to limit the number of trump mob soldier convictions to around 30-times the entire number of democrats convicted across all three recent democratic party presidencies.

Give it a week, will ya?

Also, as Cohen pointed out during testimony, trump does very little directly. Other’s do it for him so he can claim plausible deniability. The truly amazing thing, is that this "vindication" is only that trump seems not to have provably colluded DURING 2016. But none of them seems capable of spelling that out, or even mentioning that little tidbit.