I don't think I've ever felt so hopeless and empty as I do now about my beloved team.
I have, when Nasri and Fabregas left after the season had started and we basically had a pub team - actually wait that's a lie as the likes of Traore were too young to drink - thrown to the lions at OT for an 8-2 mauling.
Basically and I've gone on record as saying this I have not fancied Arsenal for the league title in over 5 years, so my expectations are lower than most fans, I think that top four is a realistic target to aim for. When Arsenal last won the league, the league was a much different place, Chelsea were in transition after Abramovich took over, Man City weren't even a glint in a Sheikh's eye, Spurs were nobodies so basically MU were the only competition with Liverpool occasionally getting involved. And that's before we even consider the fact that Arsenal just had a better team in those days.
In years gone by when Arsenal were in their pomp, I NEVER went into a home match expecting to lose. Considered it a possibility, but did not expect it. But in recent years against Bayern and Barca that's exactly how I've felt, because they are operating on a level above. Go back 10-15 years and they were not, IMO (don't forget it took an offside Eto'o goal to get them back in the CL final).
However I do have some concerns about the future:
-If Wenger decides in March/April to leave, what will this mean for the run in, will it affect performances (a bit like happened at Man City with Pellegrini) and result in missing out on top 4.
-If Wenger leaves I don't think a new manager can just come in, snap his fingers and have us challenging for top honours. I think a rebuilding excercise may be required to suit the new manager's style, and that exercise might involve dropping out of the top 4, which could compound the problems in terms of attracting top talent
-Alexis I think will get disillusioned, he is a committed player on the field but you see his reactions when subbed, and rumours have it he can be quite petulant off the field. The past two seasons he has been the only real beacon of light at Arsenal
-Ozil who knows, he may want to follow Alexis out the door. I'm not his biggest fan but he's the sort of calibre of player we need if we want to be competing with the top clubs.
-Top four battle is just genuinely more competitive these days, you've got Chelsea and Man City with all the cash, Man Utd and Liverpool resurgent under new managers, and Spurs finally stepping up to the plate with a good manager and good young core of the team that will only get better over the next couple of years.
Looking ahead the only thing that would genuinely excite me in the short term would be Simeone coming in, but would he want to?
Longer term, I am a big fan of Eddie Howe but it feels like he needs a stepping stone job if that makes sense, maybe an Everton or a Saints (not saying they should be looking, but clubs at that level), if he came directly to Arsenal he'd have massive boots to fill and if results were poor he might not be around a year later.