I'll just give my PoV on this...
I absolutely agree there was play left in this game. R approached me about me backing off him so that he could work with A against I, I approached me about knocking A and R out of the game before the draw, and A approached me about stabbing G a little earlier.
A lot of the proposals weren't possible simply because of Italy fleet position. I really did not want to lose Iberia (both because it increases the Italian solo threat and it puts me at massive risk against Germany if Italy then decides to back off a bit, because suddenly I'm not important) and Italy refused to consider giving up Marseilles or backing fleets off, so the moves for ECh, MAO, Spa & Por were on lock, as was the fact that I needed to stick with Germany to prevent that line falling.
The one that was possible was Ezio's suggestion of R/A attacking I together, but I was still concerned about G/R cooperating against me (as G had moved against me for a phase a year or so earlier) so I wasn't really happy with that solution either. If Italy was weakened then my units in Iberia would've been freed up, but that definitely would not be in time to save Norway and Holland if G did make a move.
More than anything, though, most of the players were fatigued. I'm not sure why but I think it was the fact that the early game was so dull - G/E mowed down the west, A/I mowed down the east, both sides thought they could get across the stalemate line first so neither were open to any kind of real negotiation about betrayal. There'd been very little press over that time and everyone except Ezio (Russia) was sort of detached from the game as a result. He was trying to get things going again, but nobody was enthusiastic because nobody was really having fun.
I know that's a bad excuse, but it's what happened, so... yeah. Sometimes players lose enthusiasm and early 5-ways result.
Thanks ATC for the commentary! Sorry we couldn't put on a better show for you all.