2 R&Rs but no offer

I've been closet writing for a few years and finally felt ready to query. I received an R&R and after months of revisions sent it back. The agent was happy with the changes, but requested a second R&R with new notes and several back and forth discussions about them. The agent rejected my second round of revisions, stating we didn't "share the same vision" (What does that really mean? Is that a polite way to say "your revisions sucked?").

I know this road is full of rejection and there will be plenty more to come, but the blow seems a lot harder to take after 2x R&Rs. I've got some fulls out with other agents and each rejection seems to confirm that I've tripped on my hamster wheel and am doomed to keep tumbling until the wheel stops or I'm thrown off.

Did I screw up? Since I can't afford a blood thirsty outside editor and have exhausted my betas (old and new), do I let this one go and query something else? What if the problems I can't see in this manuscript just carry over to anything new (or is this TYFATKYFW and I should just shut up and learn to drink bourbon write?)

Any advice appreciated.

Regards,

On the Hamster Wheel of Death. 

What does share the same vision mean? It means different things to different agents. When I've used it it generally means that Ive tried to stuff a novelist into a category I want and things haven't gone well.

With non-fiction it can mean that the author and I disagree about what the story is.

In other words, it's a bullet dodged, because the last thing you want is an agent thinking your book is X when you think it's Y.

Now, it can also be softspeak for you didn't nail the revisions.  Some of the ways that can happen is when I say "you need to fix X and apply it to other places in the ms" and the author fixes X and nothing else.

Things like "pick up the pacing" doesn't mean speed up the action at the end; it can also mean get to the point more briskly.  Fix one, but not the other and after two revisions, the agent now understands you can't integrate instructions, and says "done."

Revising is an art form just like writing. It's harder cause it's thinking about the entire manuscript, and thinking about every word and every piece of punctuation all at the same time.  It's keeping pace and rhythm in mind, all while you're trying to twist the plot. It's knowing you have to lay in clues in chapter three that bloom into plot points in chapter twenty seven.

Writing is chess.
Revising is three dimensional chess.

I'm going to take a wild guess here and say you need to keep writing, but move on to a new project for the time being. Often you need to write your way to a publishable novel, and it takes a couple finished novels to get there. Almost every client I have will tell me about the novels safely tucked under the bed, never to see the light of day. Or, when you pour enough liquor into them, the novels that DID see the light of day in an agent's inbox, and were (rightfully) quickly shown the door.

I think you'd also benefit from a regular critique group rather than just beta readers.  You can find those both online and in person. Reading someone else's work (like reading published novels) is one very good way to learn what doesn't (or does!) work. And  having to talk about it in a cogent, helpful way is going to be very useful to you as well as the other writer.