However, as you said their target is the Premier League trophy and will try to compete closely with Manchester City. but that does not mean, the Gunner's young squad will not fulfill their ambitions in this competition. with enough depth, I hope Arsenal can achieve the best results even if they don't win the Champions League trophy. because it's hard, if they will win a trophy in this competition.
To be honest, even though I am an Arsenal fan. but either way, I have to be realistic. in fact, there are many more established and more favored clubs. that's why, I find it difficult for Arsenal to be a strong competitor in the race for trophies. ideally, the Gunners should be able to qualify until the knockout like what you say. it will be even better, if they can perform optimally and surprise us.
I think this news is quite worrying for the fans because this season Arsenal will play in the champions league and they need to prepare as best they can to be able to compete stronger next season. Hopefully Jesus can come back sooner because Arsenal don't have a stock of more aggressive attackers compared to him.