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.
What if they make up for this failure in their next head to head match with Liverpool, will you still say that Arsenal have failed this season also. I know that they’ve missed their first chance at making a major lead in the title race, but another opportunity will present itself to them again in the second round of the league, I just hope they can win that one to cover up for this. In their upcoming games, they just need to maintain consistency and for the weeks that Liverpool fail to take all three points from their opponents, they can use that to get pass them on the table while waiting for their head to head encounter. Arsenal should not try making any mistake this season, they need to be at the top of their game and finish as the best this season.