They don't have a great squad like in the old times from now on. And they are not even thinking of doing something about this situation also. However, they should revolutionize their squad to hope for a success. Otherwise, there is no way out for them like this. If they start signing top players and build a brand new team, then we can talk about how successful they can be.
I think after losing 3 in a row and last losing 5-0 to Manchester City this time Arsenal are not the great team they used to be. they have won the EPL title 13 times and most recently 2003/2004.
They don't have the best squad, it's like Arsenal's management doesn't have the money to spend. That problem I think made Wenger leave. If they don't buy players maybe they can always be at the bottom or they can get relegated.