Arsenal is up to contesting for the Premier League but not for the Champions League, even if we still can't tell what the coming season has installed but it will take Arsenal a lot more than what they already plan on doing. It comes with a lot of motivation, for them losing enough opportunities to secure their PL title and has remained incompetent now heading for the Champions League, it doesn't fit in, everything here would require gradual steps and the next for them is to win the EPL and then set their target higher for the Champions League.
Arsenal in recent years has proven to continue to make significant changes. In the last two seasons, they have become a team that competes closely in the domestic league and UCL league. Arsenal under Arteta's game already has character, this is what makes them play well in every match, but they lack consistency in matches where they should be able to win points.
So with Arsenal's current development, I think their target next season is to get a trophy, even though their target is the EPL trophy, it does not rule out the possibility that the UCL trophy will also be a priority. The reason is that Arsenal actually already has the foundation to compete with elite clubs, it's just that they don't have good reserve players like the main players. This is Arsenal's weakness in the last two seasons, they don't have good reserve players, which makes it difficult for Arteta to make changes to the line-up which makes his players tired.