Managers pick the best job available, we aren't going to be making an offer to nab Guardiola, it's more like we want the next Poch, which still could be Silva. As such Arsenal are still a fantastic club to join for most managers.
A season without europe though would be far easier with which to have a preseason without early qualification games(can't remember if 6th place needs early qualifying games or not though?), no midweek games. It gives the manager more days for training, learning systems, improving players. A year without europe for a new manager to better rebuild, remotivate and train the players would be great for the club and give us a much easier season in the league.
IE if we had europa cup next year and a new manager improved us it would be harder to get back into the top 4 than if we had the same players/manager but no europe. Same way Chelsea, or Leicester, or Newcastle or Everton or a whole bunch of teams do better in the league without europe.
I don't care if we get into the europa cup or not, what I care about is Wenger either choosing to leave or being forced out, we won't improve with him at the club. Been saying it for a decade, it's been obvious for a decade. I honestly can't believe people haven't been able to see his complete inability to change or improve for that long.
The only reason this decline took so long is we had a 70-80% higher wage bill than Spurs, that buys a lot of higher quality players and a much bigger squad. Yet we've declined so far even that level of wage bill and squad size can't make up the difference. A 'big' club finishing 6th is to me the equivalent of a club going from 7th to relegation. There are simply different targets, different expectations and different capability of clubs with completely different finances.