I quite agree with you regarding the state of Arsenal, I think they have moved beyond fixing the team to be in a top class.
Building Arsenal to become a competitive team that could compete for Premier League titles seriously for two seasons, and I only count two seasons while in fact Arsenal finished all three latests seasons as a runner-up. However, their performances in the past season were worst then two and three seasons ago, that's why I don't count it.
This means they can be able to compete with other top team because currently Arsenal is also considered as one of the tough and strong team which could win any trophy they want due to their current performance, they performance is so admired by many fans just because on how the play but they are expecting something bigger which is trophy, for the past two to three seasons arsenal have been in a better position to win at least one trophy each season.
Trophy decides your team is a winning team and will be marked by history or nothing in history. People don't remember runner-ups but mostly would prefer to memorize about winners, champions, record-breakers. Arsenal have to do more to improve themselves and to win Premier League title in order to mark Arteta's era as a successful one in their club history.
It's high time Arteta look into this matter even though the management are not complaining but the fans are Bothered because the the rest of other fans are making mocks of them which is making them uncomfortable when defending their club. Let hope, who knows maybe they will bring change next season.
I believe Arteta knows what his team lacked of in three past seasons but whether he succeeds to improve those positions especially a striker position, will depend on transfer budget given by the club's owner.