Arsenal always moves slower in the transfer market, I think they consider too much the players they will recruit and that is what makes Arsenal always stagnant in the top 3 without being able to win the Premier League title like Man City or Liverpool who only need 1 season to be able to overtake Man City even though Arsenal has been competing with Man City for years in the title hunt.
If it continues like that they could be left behind and experience a decline, Arsenal should learn from previous mistakes and move quickly in the transfer market like other top clubs.
They have money but need to focus on a striker position as their biggest priority on transfer market. Improving this position first and foremost, before thinking of buying any other players at other positions. If they have had a striker who can score 20 or 30 goals each season, they would have won Premier League titles already.
This summer is time for Arsenal to change from transfer strategy, action and head towards a next season with a more competitive squad to win titles. Time does not wait for Arsenal players who get older each season and Arteta will not be give time and opportunities as a head coach forever.
Do you think Arsenal lacks quality players? As if Arsenal should immediately look for quality players to make a big change. No, that's not true.
We can see again how Arsenal's squad is quite perfect with several quality players. The failure was not because Arsenal was too slow in the transfer market but Arteta's strategy and tactics which are currently still a mystery. So in my opinion Arsenal don't need to rush to recruit new players but rather slowly and Arteta should change his strategy and tactics.
Arsenal don't lack of quality players as they have many good players but it does not cover a fact that their squad has weakness that needs to be improved. Let's see how Manchester City won UEFA Champions League title by buying Haaland and improving their striker position. Let's review how Liverpool changed and won titles from Premier League to Champions League after many decades without titles, by purchasing Van Dijk.
Arsenal did not have a good striker in latest seasons and it is one of their biggest weaknesses, so if they can have one good striker who can solve this issue in their squad, they will very possibly change from a runner-up to a champion.