2001 was a weird time for Limp Bizkit. On one hand, the band had just released their massive third record Chocolate Starfish And The Hot Dog Flavored Water one year prior and were at the height of their popularity. On the other hand, songwriter and iconic guitarist Wes Borland had just quit the band. Limp Bizkit would ultimately recruit guitarist Mike Smith in 2002, release the much-hated Results May Vary in 2003, and be rejoined by Borland in 2004 until the band broke up in 2006.
According to Fear Factory guitarist Dino Cazares in an interview with Metal Hammer, he was asked to audition for Limp Bizkit around when Borland had quit. Cazares said he shot the chance down because he thought Limp Bizkit was dated at that point, and that joining them would've been "career suicide."
"Because it was in 2001 and I felt that that style of nü-metal had already hit its peak," said Cazares. "Limp Bizkit's [sound] was already oversaturated and on its way down. I said, 'If I actually got that gig, it would have been career suicide.' Fear Factory, we were pretty much at our peak. And it's funny because, two years later, I was out of Fear Factory."
And really, it's probably better that Cazares didn't – post-Borland Bizkit was a shit show. Limp Bizkit originally embarked on a Guitar Center tour called Put Your Guitar Where Your Mouth Is to "try out new guitarists" before landing on Smith, but were really just trying to sell Guitar Center products and not look for a new guitarist. Which y'know, pissed people off. Then in 2002, Fred Durst posted Borland's email online to have fans ask him to come back to the band, and most of the emails told him not to do it. And then there was the 2003 Summer Sanitarium Tour with Metallica, where Limp Bizkit learned the hard way that Metallica fans fucking hated them.
So yeah, good on Cazares.