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I agree. The emails, if anything, seem to have come from someone (a gun store, private owner, etc.) who was responding to an inquiry from Paddock about buying more guns, etc. Paddock bought something like 50+ guns in the months prior to his murder spree in LV. OCD guy that he was, he was probably still looking to buy a few more weapons to add to his stockpile.
Sadly, all the guns, bump stocks, etc. that are mentioned in the subject email are all items that are easily and legally purchased in the US at the time. If Paddock was an arms dealer, who was he going to sell these guns to? If he was an arms dealer from the US, he has no real market in the US as guns are available to pretty much anyone here. The few laws we do have are poorly enforced, if at all.
The only markets for a gun dealer living in the US would be selling to people outside the US and that's a big league market. US arms dealers selling in the foreign market sell large volumes of weapons. By the truckloads and shiploads. It doesn't look like Paddock was buying large volumes of weapons.
A potential market for his weapons could have been to people that are barred from purchasing. Felons, etc. But I think this is unlikely because he had purchased these weapons (as far as I know) in his own name. If you are looking to turn around and sell them to criminals or other weapons traffickers, you certainly wouldnt want your own name attached to them. I also agree its unlikely he was involved in international arms deals. I just don't see any evidence for it. I don't reject the arms-dealing angle totally, I just don't see it as most likely here. But I do think its possible he "thought" he was a dealer. Either he lived a fantasy life (Walter Mitty) or so far into mental illness that he thought he was a dealer. The emails between his accounts are intriguing for sure. Had he provided login info to someone to communicate through those accounts (a pretty good confidential communication technique) or was he just communicating with himself? Could be another sign of mental illness. He could have had bouts of delusion where he thought he was communicating with others when it was really just himself. Unfortunately, I assume now it is impossible to say if he was delusional since he was never examined prior and now he is dead. Unless there is some chemical analysis of his brain that can detect illness? I have no idea. The gf did say he had been acting very strange towards the end. But that could mean a lot of different things.