Always ask to see a scan of all pages of the letter
In some cases there may be a reason why there was not a grade assigned regardless of what service was paid for.
The front page (or pages) of the letter may contain some information which is not visible on the PSA website.
Just a guess but it may be, given how it looks in images, that this bat shows no use so John (PSA) just confirmed that it is a pro model bat but did not grade it as it does not warrant a grade.
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