I think Arsenal doesn't have to make a major overhaul to become champions because they already have a pretty solid squad and a good coach. At most, they only need to sign a few players who are really needed and don't have to make changes on a large scale. Arsenal's real problem is that they still don't have the winning mentality that Man City and Real Madrid currently have, and I think if on several occasions they can reach the final, it will form that necessary mentality on its own.
Arsenal is actually on a balance when it comes to squad. It won’t be bad if they want to add extra players to their squad but even with the current squad, they are very much solid to compete with top clubs. The problem I see with them is their relenting attitude when they’re suppose to put more pressure. They normally start very well with good energy but perhaps, the English media hype is one thing that deceive them thinking they have achieved much and begin to slow down their performance and end up losing important points.
The logic that Arsenal listens to media hype and lose concentration doesn't hold water. How can any club be distracted by media hype when you have not won a title or trophy. If such a thing exists, Manchester city should be the victim and not Arsenal.
The problem with Arsenal and its management is that they do not have proper planning and focus. When they begin to have a target, they will begin to achieve success. So, this season they should just target one trophy and pursue it with all they have. They have a nice squad to do so.