That's one of the great desires of Arsenal fans in my opinion. Their performance is improving, their players are getting better, and Arteta's strategy is also working well to get good results. Yes, in the end there is good hope from arsenal although I'm not sure about their chances of winning the title.
I think Arteta is going to do better than he even did last season, i see potentials in him as a manager, it might not be quite evident now, but prolly in some years to come he will be a renowned manager. Arsenal look promising for this new season, they have made really impressive signings, and it is now time for the players to show their talents on the pitch; Gabriel Jesus and Zinchenko are really quality purchases, as well as their other new players, i am pretty sure all of them are going to help Arsenal move a step further.
Yes of course they can't win the EPL title yet, i am pretty sure even they know it, but what they must do is to finish in the top four, and try to win any other trophy, there is the FA cup, Carabao cup and the Europa League, i think they are capable of winning one of that, and if they do so, coupled with a top four finish, then they can say they had a good season in the end.