I remember a time, like a 5 year period in fact in which when Arsenal went down to 10 I still thought we could win and we often did, even coming back from behind to do so and against the best opposition.
Today... I don't see it, I see no possible substitutions, not the right players, not the mentality or willpower to come back from behind while down a man.
EDIT:- oh, we're back to the panic formation... when you don't know what to do, take off defenders for wide players, put on as many wide players as possible and let them do whatever they want on the pitch.