I believe Arsenal will still beat the odds in other games ahead and make this season worth the while much more than they had last season.
But it's not more valuable than a runner up position. What I mean is, the first meeting between Liverpool and Arsenal already showed Arsenal's failure to at least avoid dropping points. This defeat has reduced their chances of winning the title at the end of the season. Overall, I believe Arsenal can still finish the rest of their matches well, but Arteta's squad has already dropped crucial points against a direct rival. So I can say for sure, Arsenal have failed once again this season.
There's still one more meeting between them, so Arsenal still has a chance for revenge. With that goal, Arsenal still has a chance to win the title, but to get there, they need to collect as many points as possible. From their match against Liverpool today, they only need to improve small details of their squad to ensure a smooth journey.
They will definitely meet again in the premier but not now and remember while Arsenal will think of revenge and preparing ahead of time also know that Liverpool will also prepare and re-strategize even while they are playing other teams. I think both team has the highest signing so far in England this season and currently they are doing well. And lastly, Liverpool has just gotten Isak so Liverpool against Arsenal, Isak will be there to show case himself and Isak is one of the great striker in English premier league that was why they took his price so high and I believe he deliver in Liverpool just as he was delivering in Newcastle united.