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Indeed, on paper Arsenal are clearly superior in every way, but because this is the Champions League where the prestige and tension of each club is really at stake to minimize losses. Sevilla is quite bad in the domestic league but still playing against Arsenal is a challenge for them, playing at home is a plus while the mentality of the other Sevilla players must be proven in front of the supporters. On the other hand, the visiting Arsenal team should be able to control themselves and not be easily provoked, considering that Sevilla will try to provoke their opponent's emotions so that their focus is broken and they can control the game. For me personally, the possibility of Sevilla winning is quite difficult but there is little hope that they can win with a narrow result.
Having better squad depth than Sevilla will not guarantee that Arsenal will be able to beat Sevilla easily. Sevilla playing at home will certainly get direct support from their fan base and that will raise their enthusiasm to perform better to win points. Sevilla have not won a single match in the two matches they have played, so this will also be considered an opportunity.
Sevilla was a strong team in Europe even though they mostly failed to progress far into the next phase. I believe Sevilla will strengthen its defense and develop the most deadly counter-attack strategy to beat Arsenal. Of course Arsenal are favorites because of their performance, but however Sevilla is a team that can do something in their favor.
Regardless of Sevilla's current form in both the league and in the UEFA Champions League, playing against them in an European game at the Ramon Sanchez-Pizjuan Stadium is one of the scariest matches for any European club because Sevilla are always playing at their best whenever they're playing an European game in front of their home fans.
Arsenal I think knows truly well of the kind of task they're trying to execute and I think Mikel Arteta's men are ready for the encounter. On papers, Arsenal are the favourites to win that game but they must be at their best to take all three points from that game