Arsenal is a strong team. There are talented players in the squad. Arsenal management has the ability to spend a lot of money to build a squad. But even then the team has failed to win the title.
Arsenal's only problem is their consistency. Although the team was in good form at the beginning and end of the season, the team lost its momentum in the middle. Their performance became erratic. And gradually they started to move away from the title fight. If they want to win the Premier League title, it is essential to perform well consistently. However, this season Arsenal is probably trying to strengthen their squad. Arsenal will make the utmost effort to keep the overall performance of the squad stable this season.
Arsenal actually has quite a few star players, even compared to Liverpool, their squad is very good. Maybe City edges ahead in this comparison but as we have seen this season having a star studded squad is far from a guarantee of success. And by the way Arsenals dips in form do not always come with a wave of injuries. I mean there are not more injuries than usual and yet the team can still go on a run of poor results. It is hard to say what the reason is, I think even Arteta himself has not quite figured it out yet.