Haha we are talking about Arsenal in the last 3-4 seasons when they were close to winning the title but it seems the curse is still around 
I won't underestimate Arsenal because I know they have the ability but somehow they have to compete with other great teams who are constantly improving their squads. On the other hand, we are still waiting for Arsenal steps in this transfer window. because it is impossible for them to only rely on last season's squad while as you said Liverpool and Manchester City have already brought in new players.
Arsenal is a team i think with all the capabilities.They have the potential for a healthy game. And their reason for failure is undetectable and i think it's not only my personal opinion in fact every viewer has the same thought. But they have to overcome their weaknesses to maintain their position to a good number. As the other teams like Manchester City and the liverpool team have made changes in their clubs by adding some new players and outing some old ones. The Arsenal team also needs to make good changes for the next season as well. Because if they can't take these weaknesses seriously then next season will be more difficult for them. And they need to learn by seeing other clubs how they are getting ready to compete with each other. I won't underestimate Arsenal because I know they have the ability but somehow they have to compete with other great teams who are constantly improving their squads. On the other hand, we are still waiting for Arsenal steps in this transfer window. because it is impossible for them to only rely on last season's squad while as you said Liverpool and Manchester City have already brought in new players.