You made your point very clear, but unfortunately, I believe it to be wrong.
First of all, the so called deal of 24 Su-35s for China have been going on for years, and the Chinese have already said they're no longer interested. There is no reason to suggest that they're looking to buy it, even for reverse engineering purposes (in particular, the engines).
Second, the Indian deal (even if it goes through) will take at least 2 years to fulfill one squadron worth of orders. India has to go through training, building of infrastructure, and so on, which will take them a long time. There have been calls within India to abandon the Rafale deal, and concentrate on the Su-30MKIs. By the time they get a squadron ready, PAF may have better options available.
Next, the Su-35 isn't the only available 4++ gen to Pakistan, hell, I don't think the Su-35 is actually even available. Like
@Oscar said, India would sooner spend a billion, then let Pakistan spend a million buying the damn thing.
Pakistan is still not interested in the Su-35, and the former air chief has already said that PAF is more interested in 5th gen. Former air force pilots and current analyst, Kaiser Tufail has said that PAF may want to skip the 4++ and go straight to the 5th gen.
PAF will reject the deal, if a deal even exists (which I doubt). Whether for the reason I've given, or Oscar. It's as simple as that.