Arteta understands what football is to the public. If you want to win the Premier League right now, its not about how many goals you are able to score in a match its about winning each game throughout the league and that is what Pep Guardiola has been doing right from the start of Manchester City. Right now Arsenals defense is stronger than what it is before, Arteta still bought more midfielders who can hold the ball for long and shoot when necessary. This is how they can win the league. When they concede less goal and win all the matches.
This is exactly what Arteta and Arsenal did last season, but that wasn't enough for them to win the league. They conceded the fewest goals in the league and scored 91 goals; only Man City scored more. However, they still didn't win the league simply because they lost two more games than Manchester City.
I must be honest, competing with Pep is a tough thing to too. If you want to win against Pep you have to do what Levekusen did to Bayern Munich, finish the season unbeaten, and we know finishing the season without losing is near impossible for Arsenal in the premier league.
What I'm certain of is that it's going to be a competing season between these two again, but I feel Man City will win the league a little easier than they did last season because right now they have a better team than they did last season.