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
It's true, the match between Arsenal versus Bayern Munich is a very troublesome match for both teams. Arsenal is in stable condition, so their chances of beating Bayern Munich are quite open. On paper, Bayern Munich is a team that deserves to be favored based on their experience, they have a better mentality compared to Arsenal in the Champions League. Thomas Tuchel squad can show a different performance in the Champions League, even though they are currently experiencing a decline in performance in the Bundesliga.
Bayern in the Champions League as a rule never spared their opponents and dealt with them harshly without hesitation, but this season for Bayern is really quite average, both in the Bundesliga and in the Champions League. They look ok overall though, I don't know, it's like that tough core they've lost