Playing a draw at home is not always considered bad if Arsenal can provide a better game in the second leg (away match). Of course, Bayern Munich will likely be the favorite at home, but Arsenal is a good team who will most likely also win the second leg.
Manchester City and Arsenal both ended the first leg of the Champions League quarter-finals with a draw. They have good form to hope for a ticket to the semifinals, but Real Madrid and Bayern Munich also have the same chance in the second leg. This match will be very interesting of course, that's because all four teams still have a chance.
Bayern Munich would be having home advantage and that of the fans as well and I don't believe Arsenal would be able to get a good win unless it comes with some levels of luck or favoritism from the mall ch officials as well errors. Bayern Munich now has all of them best players around and with no Injury, Arsenal stands no where near them to halt them from progressing into th next round.
And when you consider Arsenal's chances of winning the Premier League Competition, you'd see they have still on too many competitive clubs that are fighting to qualify for the Conference League Competition, European Europa League Competition qnd also the Champions League Competition.
Don't forget they have Manchester United, Tottenham Hotspur, Aston Villa and Chelsea. These are hard core games, they go throughout these ganes with wins, they we can call them the best in the Premier League Competition but one step at a time.