even so Arsenal has shown progress in managing its squad and that is an achievement that continues to increase.
Wrong!
In fact, Arsenal never made any progress since 5 years ago. They never move forward. They get same result any season. They always finish 2nd, and being trophyless in the end.
They wasted hundreds million to rebuilt their team, and their result is not worthy with what they have spent.

I don't really see it as a waste. It is better to remain second every season than to get worse. Arsenal maintaining second position means they are close to getting the title of the Premier League. It is not easy to come out as second best every season; there are teams that are even struggling to be in the position of Arsenal, but they cannot. Having a second position every season in a league like the Premier League is not easy; it proves consistency. The reason why Arsenal is unable to win the league title is just a little problem they haven't been able to solve. Arsenal has a problem with a good striker, and they have always had problems with injuries to key players.
Being second is a good thing, but staying second for years is not a good thing. If you stay second for a long time, then it is questionable why you could not be first. Because the first team changed last year. Liverpool became champion instead of Manchester City. While everyone expected success from Arsenal, Arsenal remained outside of it. Arsenal, who wants to be champion in the coming years, should know how to eliminate their small problems. Otherwise, if they continue like this, the championship will always elude them.