Yes it does...? That's the whole point of the waiting period. It allows the government to present proof that the person on the no fly list is too dangerous to purchase a gun. It addresses exactly that.
Your answer was more of a cop-out.
The government presenting proof should occur when the person is initially put on the list. We need to improve the no-fly list; at the beginning. I think we can all agree on that. Cornyn's bill does not fix the initial mistakes.
This debate is about the ease of acquiring guns. It's ridiculously easy to the point that terrorists openly encouraged people to take advantage of it. Cornyn's bill and the other GOP bill did not go far enough. The defeat of these bills wasn't a "we need to do something, anything" because "something, anything" won't fix the easy access to guns.