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That's right, Arsenal failed to capitalize on the momentum to win a trophy. Manchester City dip in performance should have been a golden opportunity for them. Arne Slot, in his very first season, immediately managed to do it, at the start of the season, perhaps only a few believed Liverpool would succeed in winning a trophy this year. Arteta seems like a runner-up specialist manager, and he's lucky to be coaching Arsenal because at another club, Arteta might have already been sacked by now.
I haven't seen Arsenal like a team that has a good mentality in every competition, including domestic competitions in England. They failed in the Champions League, failed in the Premier League, the EFL Cup and the FA Cup, they couldn't get to a single final. There is no trophy that Arsenal can win even though they are doing well with Arteta, but as long as they don't have a winning mentality, then as long as they don't have a winning mentality, then I think they will fail.
Arsenal are not a team that often sack their managers lately, they are a team that tends to give a lot of time to build a team with a good style of play. I remember Arsenal produced many star players who were then sold and went on to win many titles with other teams, while they failed at Arsenal. Arteta is not to be sacked, but he needs to prove that the title is his main goal.