Manchester City are an important team and they have strengthened their defence by reinforcing Gvardiol. Still, I think Arsenal is a team that can compete with them. Both teams had competitive matches last year. Even though Arsenal haven't been successful in their last period, I can say that Manchester City is the most difficult opponent. I think we can see a rivalry between the two teams this year as well.
Arteta will definitely try to compete with Guardiola, but my guess is that Arsenal will have a downturn at some point. You see how Guardiola brings the team to the peak, at the beginning of the season they don't always have the best game, but towards the end of the season they reach their optimal form and I think this is a very correct strategy.
Arsenal, on the contrary, started the season very well, but in the most crucial period, at the end of the season, they lost all advantage, conceded too many goals and as a result lost the championship to City. If Arteta does not change anything and everything repeats again, then most likely the result will be the same.
I think Arteta gained significant experience from last year and will warn his players about this. Manchester City were lucky because last year Arsenal have been losing in the league with huge inconsistencies lately. I don't think we will follow the same scenario this year. If Arsenal takes the lead this year, they will continue to develop various tactics with Arteta to use this advantage.