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Arsenal is also one of the clubs that has not won a title for a long time. In fact it is difficult to compete in the Premier League somehow stop the dominance of Manchester City they are in a golden era. From what I've seen only clubs with old coaches can beat them like Liverpool so between players and coaches have a strong bond and built more than 5 years. Manchester United is far from this category they need a few more years to be stronger while Arsenal may be closer we can see the progress from year to year top 8 , top 5 and last season they were runners up I think in the next 2 years it will be Arsenal's turn.
As long as Manchester City still supports Pep Guardiola as their coach, so long as Manchester City's dominance in the Premier League is possible. I don't think Pep Guardiola will lose his mind to knock his team from the peak of glory even if other teams continue to improve the depth of their squad. If Arsenal and all other teams can regenerate their players with quality players, then Pep Guardiola will too.
So far Pep Guardiola has been clouded by the club's massive financial power if he wants to build his team. Sure they have to be very careful how they spend money, but I don't think Manchester City will lose their dominance even if Arsenal try to stop it. Arsenal will not replace Manchester City's domination in the near future, but they can win the title if they manage to maximize every match and win points.
I was really impressed by Arsenal's performance at the beginning of the season, they took everyone by suprise and at a point the seemed like the best team last season and I already mentioned to a friend that they would win the league then, not until Manchester City came top and remain in the first position until the league was over, the thing is Pep have set a standard for his team and every player he has are all following that standard he's made the team very tough and scary to rival teams and it would only take Pep Guardiola to leave the team before they lose dominance of the Premier league, Arteta looks very promising and in the near future if he keeps going on the right path then I think there would be lots he'll archive with Arsenal although he might not be as very successful as Pep but he might try to win one, two or three troophies with Arsenal in the near future
This season is going to be tough because there are lot of top managers currently in the league as well as top players that's been brought to the league in the recent window so most big clubs have strengthen their weak point and are very ready to challenge for the trophy, it won't come as easy as before for mancity they'll have to fight hard to retain their spot as title holder, though they're still referred to as top contenders for this season it would be a very big record for Manchester City if he wins the league four times in a row.