I didn't have high hopes for Arsenal. I think it's great that they're even at this level right now. I see their chances to be the fourth team of the league more than other teams. They will need to set up a squad as ambitious as to be the champion next year. If they are not aiming for a championship, they should go to the highest level possible in the champions league. For that, they must secure fourth place after Manchester City, Liverpool and Chelsea.
I don't think Arsenal deserve to be fourth in the points table. Maybe Arsenal's performance is good enough now. They can play well. However, Manchester United's squad is much better than Arsenal's. Although West Ham and Leicester are irregular, they are good enough. At the same time, Tottenham's Kane and Son are back in form. So coming in fourth place in the table is now becoming much more difficult for Arsenal.
I also think like you. With Kane and Son, Tottenham is playing better games. Besides, there is a Manchester United that changed the technical team. Manchester United is superior to Arsenal in terms of squad quality. If they combine this quality with harmony and reflect it on the games, they can most likely be the fourth in the league. Low probability for Arsenal to finish fourth. It remains to be seen how the Premier League will rank this year. The championship will most likely belong to Manchester City.