With talks of Noni Madueke and Viktor Gyökeres coming in shortly, are you not convinced they're still up for the competition?! I'm a Manchester united fan but that don't mean I should support football blindly. They're doing fine, they have done good business in my opinion and most likely going to be my favourite to win the Premier League Competition. They have also added quality players for squad depths.
This is exactly my take, Arsenal have been on the top 2 positions for the past three seasons with just missing out from winning the league with just little details. People think the only thing Arsenal needs is a striker not knowing that the lack of squad depth is very big issue to winning the league, we all saw how the might Manchester City had troubles last season due to their lack of squad depth and they quickly responded with signings. The league leaders Liverpool also suffered in the second half of the season when their main goal scorer Salah was on a drought, they responded by signings and even breaking the transfer British transfer record in the process, this signifies the importance of squad depth.
So if Arsenal can seriously add more players, like the ones they are currently in talks with and their already completed signings I think they will be able to win or compete for league than just signing a striker alone