Leicester City lost to Arsenal in that match because they didn't have control of the shooting at any point in time. They didn't have enough accuracy and also didn't make enough good chances converted. Counter attacking didn't also work out very well for them. They almost head double the possession and also had almost double shots on target. Birthday could not convert them into goals. I think they need to work on their conversion rate if they won to win against Chelsea in the upcoming match.
Liecester has really tried for past seasons after lifting EPL. These guys have been somewhat consistent even more than big clubs such that they could even be classified as big team. They are used to selling their key players and still succeed. But this time around, it didn't work. There is time for everything. They are should maintain and finish the league moderately, next season they can restrategize.