Either way, your choice is the right one for you - just trying to understand the hang up - probably 'cause I would have jumped at the chance to recoup some equipment money.
I wouldn't claim to know why the OP turned the job down.
I could see reasons that a non-pro would turn the work down.
He expressed one in a previous post, the enjoyment of reviewing his own work.
Some do not pursue photography as work and if you turn it in to work it may not be enjoyable any more.
Depending on a persons financial condition the money may not be as appealing. While $122 would seem like very good wages to many, to some it may not be.
As for a pro turning it down, I could see far fewer reasons. The majority of pro photographers are not going to average $122 an hour and it would be a very good paycheck for them. I am sure there are those who are in the point and position with their business that they can will turn the work down.