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.
We Arsenal actually need to sign more players to become Champions because lack of good and reliable striker affected our performance last season which caused us the League and any other trophies we played.
You can also see how lack of experience affected us in the quarter finals against Bayern Munich and lack of a good finisher to convert some chances for the team; although the players tried very well throughout the last two seasons but going trophyless is not proper for Arsenal again next season which is some players need to be signed to make the team more stronger.
A striker, a support for Bulayo Saka, and a replacement to Odegard as the case maybe so that the team will be completely relied on by the fans and injuries will not affect our performance.