So all in all, for a team that has been decent only for a while, we can't really say that they are the leaders in the candidate for the title winner. I think they are the third best team so they should finish third in the league, I would put them there, and that makes sense, but I wouldn't put them beyond Liverpool and city, those two teams has dominated the last ten years, and they will end up being better than everyone else.
Arsenal fans must have really missed the times with players like Henry. Because those times were the brightest for this team. Since then I don't remember a single Premier League title achieved by Arsenal... The last time they won this title was in the 2003/04 season. It has been 20 years since then, time flies.
Now Arteta has a big responsibility. Maybe the board wasn't expecting Arsenal to improve this much when they first brought him. However Arsenal can't still reach the championship.
Like I said they would really benefit from having some more experienced players with a leader character. Signing a player such as Mbappe would also change things a lot but I wouldn't expect Mbappe to choose Arsenal while there are better alternatives.