Sure. Arsenal bought players and spent a lot of money, but they are still finding it difficult to get what they want at the end of the season; however, to me this is not really from the players. I think the coach is the one who plans how these players will play their match, so for this he should be the one to plan what will suit these players and get what they want.
Yes, the chemistry between these players play a significant role in their gameplay and their power to deliver in both small and big matches. While Arteta seems to be a committed manager striving to see the success of the team. He needs to do more in terms of making extra goals that will make the team to triumph and win trophies. I also think they've got a combination of couple of young players who are putting in efforts to push the team ahead.