Liverpool is in their best form doesn’t mean that they will be winning all their matches. I don't also see how dropping four points will cause them a lot, because Arsenal is not consistent. Liverpool is 11 points ahead of Arsenal, and that's enough to show that they are going to be the title winners this season. Arsenal will still drop points.
If Liverpool fails to win the title in this competition, it's too much, they just defeated City and now the points gap from Arsenal is 11 points. If you look at their opponents until the end, it seems that Arsenal is the one who is giving enough resistance. Let's say Liverpool lost to Arsenal in the second meeting, but if they can win all the other matches, Liverpool will still be the champion this season. Liverpool's probability of becoming champions is very wide open, while Arsenal, the team below them, is not consistent. If Liverpool can't maximize the rest of their matches well, it's too much, because they are very close to becoming champions and really deserve it. Even though I am an Arsenal supporter, Liverpool is indeed the one who deserves to win the trophy this season. If that happens, Arne Slot is very lucky because in his first season he was able to present the League trophy that The Red supporters have long awaited.