Yes, Arsenal are very strong at the moment and the game against Bayern could well prove to be a winnable game for them. So far I don't see Bayern being able to beat them or win the Champions League in general, they have a series of bad games in the context of their home league. But it will be a tough match for both teams either way
I also have that view. Indeed, if you look at history, Bayern Munich is superior, but if you look at the current performance of the two teams, Arsenal is superior. Plus, Arsenal have very enthusiastic young players, so I think they will be able to beat anyone they play, including beating Bayern Munich. Arsenal has too many quality players for Bayern Munich to worry about, for example. Saka, Jesus, Martinelli Odegaard, Rice, Trossard, Partey etc. And I don't think Harry Kane will be able to and doesn't know what it's like to face the indomitable stone wall of William Saliba and Gabriel Maghales.
So this season it looks like Arsenal will beat Bayern Munich as revenge because seven years ago Arsenal were humiliated by Bayern Munich who lost 10-2 on aggregate in Ro16. Now, years later they have to face each other again, with a new squad and manager, what's the story? We have to see whether Arsenal can get their revenge.