It really is possible that interstellar travel simply doesn't happen. It might be technically impossible (there was a thread recently in which quite a few people argued just that).
Also, one of my numbered points, it might be technically possible but for other reasons something no civilization ever ends up making use of. (Or technically possible but something no civilization ever discovers.)
Again, the argument amb and Bill have been pushing rests on the assumption that it's not only technically possible but absolutely inevitable that an intelligent civilization would discover it and be motivated to exploit the technology and make evidence of their existence ubiquitous throughout the galaxy.
There are all sorts of possible explanations why this assumption doesn't have to be true. (And for the argument to work, the assumption must be true.)
It could be technologically impossible (and rather than address FTL, interstellar travel, self-replicating probes or ANY specific formulation of Fermi's Paradox, I'm referring to the very general proposition that an ETI would make evidence of its existence ubiquitous in the galaxy).
It could be possible, but no civilization lasts long enough to discover it.
It could be possible and civilizations could last long enough, but it could be that civilizations at that level always (or even usually) lack the motivation to do it.
It could be possible and civilizations could last long enough and have the motivation, but the technology could be economically impractical.
It could be that all those things are in place, but evidence doesn't last long enough to remain ubiquitous throughout the galaxy for any length of time. (In my dog analogy, what if a dog had just walked through my back yard a few minutes before I looked out? What if a civilization had colonized all of the universe, but then abandoned some bits of it a mere 100 million years ago, so that our corner of it shows no sign of their presence? What if a probe had passed near or even through our solar system a mere 1000 years ago?)