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Arsenal may be in their best form but that is mostly in their premiership league which is totally different from the champions league. When it comes to the champions league, a lot of things come into play and experience is at the front of the factors. Bayern Munic is obviously more experienced than Arsenal when it comes to the champions league. Arsenal have to try very hard to be able to overcome Munic that is favorite to qualify. Now that they are not likely to win their league, they will channel all their energy to the champions league unlike Arsenal that is also fighting very hard to win the English Premiership title.
When Arsenal managed to qualify it meant they could not be underestimated, for whatever reason Bayern Munich also had to be careful, after all both teams could fight each other 50:50 both of them were equally strong. I will not take it lightly, that the conditions of each team are different and in the hands of different coaches too. For this reason the meeting between the two is not just about experience in the UCL anymore but a battle over which coach tactics are effective. I think Arsenal can still beat Bayern Munich and that has huge potential. Bayern Munich itself now relies on Kane or Sane, while Arsenal strength is more evenly distributed, the same as Manchester City. Each line of Arsenal players is quite solid.