if consider the purchase to be a Munich business and long-term investment. Of course, Ronaldo will not be on the Munich buy list. with old age, although the arrival of Ronaldo will make sales of jerseys and souvenirs from the club increase. but it will only last for the duration of the contract. I think Munich is thinking of a player asset that has more value in the long term.
Any team that buys Ronaldo today is only doing so for the sake of the club's earnings. He is an asset to the club and any club would be lucky to have him. A team like Munich doesn't need him for that; they need a player who will stay and help the team for a long period. Ronaldo is getting older, yet his physique is still impressive at his age. A smaller club, rather than a big one like Bayern Munich, will need him to boost their club earnings.
It was quite a surprise when there were multiple sources confirming Bayern actually thought about Ronaldo when looking for a striker but later on thought that it didn't fit right into their plan. I think its bit of a financial obstacle which is holding them back. Also yeah they need someone for the future so that's another thing. Bayern are very smart while making transfers and I don't think Bayern are the ones who will make this transfer happen just because they want their revenue to grow.