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.
You can't be so sure already that Arsenal isn't up for the competition in the champions league, you never can tell what their plans are for the season and yet you may be making conclusions on basis that can't be considered solid, no team loves to lose neither will them plan to do same not from the very beginning of the season. We all know that in the past season, there have been several attempts by Arsenal to win the premier league making it look like priority for them and ofcourse their champions league attempts have been unmatching with their premier league attempts but then it's still possible to make good and almost equal attempts at both trophies which we may see in this new season so let's not be quick to rule anything out just yet until we are sure probably after seeing them go quarter to half way the season.