I also had the same issue. It looks like instead of reducing the cooldown, buying the second upgrade dramatically increases the cooldown. If you wait around for a bit after buying then the fishing rod reappears but it seems to make it go from a few seconds to about 30 seconds between clicks. I also tried refreshing the page which reset the save, but the same issue happened again after buying that upgrade.
dhrobinso
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A member registered 7 hours ago